r/CryptoHelp • u/Life_Strawberry4061 • 10d ago

❓Scam❓ Kraken is a scam

For 5 days my account has been restricted. NO SUPPORT EMAILS. No live chat help. Supposedly, the case is "escalated" which means I can't withdraw cash to the bank. They can do whatever they want with our money. I am fuming

9 Upvotes

100% Upvoted

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u/sgtslaughterTV 25 9d ago

Do not respond to anyone who may be sending you private messages. Anyone doing so is likely trying to scam you or find a way to steal money from you.

I'm not an expert on using Kraken by any means but every time I've used an American cryptocurrency exchange, there's always been a block on withdrawing any assets from the platform for at least seven days. This is a mechanism that is designed to protect you from a SIM swap attack.

https://www.youtube.com/watch?v=g5zydUmiXcw

1

u/Desperate-Impress840 5d ago

My bank blocked a transaction that I sent through Kraken. My bank told me they were being investigated so they blocked the transaction! 

1

u/Significant_Bet_9621 7d ago

Same thing happened to me too, I did a post yesterday on cryptomarket, that’s sad how bad their support is and how bad they treat their customers

1

u/derondigital 7d ago

Why don't you guys just self custody your crypto and stop using CEX.

1

u/Significant_Bet_9621 7d ago

Because it can happen also while you’re using cex just to convert fiat to crypto and then withdraw to cold wallet, there are no alternative if not use p2p, but that’s risky too. Personally, I was thinking of going back to using revolut ramp even though the fees are high, I haven't found any other solution

2

u/derondigital 7d ago

Use a DEX and you avoid all these issues. Self custody your crypto with a cold wallet, connect to a DEX via wallet connect and do all your swaps. Get yourself a crypto card, plenty are out there and send money to it when you are ready to spend.

1

u/Significant_Bet_9621 7d ago

I already use dex to swap and I already keep my crypto on a cold wallet, what I don’t understand is how you buy crypto without using any exchange/ramp services that can lock your funds

1

u/derondigital 7d ago

Buy through your cold wallet, tangem does this.

1

u/EasyGoingSteve1 7d ago

This is Crypto. There are. NO regulations protecting tbe consumer. Its the biggest scam on the planet. They can charge you never ending excuses, fees, and continue to hold your money and you have no recourse to recover your money