kraken account was closed

koffea

koffea

Explorer
Joined
Dec 8, 2025
Messages
34
Reaction score
0
Location
Western US
It seems like secondary and tertiary wallets are on their radar these days.

At minimum I ran one buffer wallet, and usually it was two.

Pretty annoyed about this, kraken was a platform I actually liked, I had plenty of automated trading running and my results were decent.

Not sure if converting through cake wallet to xmr or something along those lines would be a smarter route. I mean, if they notice you using a dex, doesn't that raise a red flag as well?

I have to wonder whether my money will come back to me now
 
The deeper I dig into how Kraken operates, the worse my opinion of them gets. A couple of weeks back I deposited $500 in cash into my account. Yesterday I wanted to spend part of it, so I swapped it into crypto. Then they slapped a hold on it. That's absurd and a real hassle. Over on CB, I deposited funds, converted them, and sent them out with zero issues. The moment I can move my coin off their platform, I'm done dealing with them.
 
Mushmouth said:

The deeper I dig into how Kraken operates, the worse my opinion of them gets. A couple of weeks back I deposited $500 in cash into my account. Yesterday I wanted to spend part of it, so I swapped it into crypto. Then they slapped a hold on it. That's absurd and a real hassle. Over on CB, I deposited funds, converted them, and sent them out with zero issues. The moment I can move my coin off their platform, I'm done dealing with them.
Click to expand...
No matter how long you've kept cash sitting in that account, Kraken still slaps a one-week hold on your crypto, it seems. These days I stay with CB since I can get to my money right away.
 
Up to this point, Kraken has treated me fine. I move funds from my checking account into Kraken, and I'm aware that a week has to pass before those funds become usable. Because of that, I keep some money sitting there at all times and plan in advance. Whenever a vendor needs to be paid, I send from Kraken to Exodus and then make the payment out of Exodus. Naturally, a bunch of fees pile up at each step.

No problems yet, but there's no telling what might be around the corner.

To me, Exodus functions as my burner wallet--I'm not clear on what you mean by buffer wallet. Kraken has no way of knowing who I eventually paid, so I figure I'm okay... at least for the time being.
 
AngieHolmes said:

No matter how long you've kept cash sitting in that account, Kraken still slaps a one-week hold on your crypto, it seems. These days I stay with CB since I can get to my money right away.
Click to expand...
Same here. My plan was to use kraken for XMR so things would be more anonymous. But after seeing that kraken shuts down many accounts without a good reason, and on top of that they make it a hassle to use, I'll pass
 
koffea said:


They must be looking at secondary and tertiary wallets now.

I always used at least one buffer wallet, most of the time I used two.

Really frustrated, I liked kraken, I had a lot of automated trading going on and was doing fairly well with it.

Maybe cake wallet conversion to xmr or similar is better, I am not sure. I mean if they see you going through dex, isnt that a red flag too?

Wonder if I will get my money back now

Click to expand...
Click to expand...
Man, that's rough - hopefully the loss wasn't big - chances are you'll recover it anyway.

Exodus is what I use - as far as I can tell, paying for peptides isn't something they'd close a wallet over. Nothing locked up - none of that nonsense - I'm kinda partial to them - back when I was brand new, had zero sol for gas, and had no clue how to swap usdc into sol, they even tossed me some sol for nothing - later on I figured out simpleswap.

Honestly I'm still green at crypto....but picking things up...
 
For my first purchase I attempted to go through Kraken, but once they and every one of my bank accounts had sent me in circles, I quit. My bank got flagged by them and a fraud alert was placed on it — that part wasn't a big deal — yet the exact same thing then occurred with each additional account / card I attempted with them. It has to do with the way they operate. In the end I went with Trust Wallet and it worked perfectly the first time no holds.
 
I used Coinbase for bank funding, then once the money cleared I moved it offsite to a ledger nano. The only hassle was Coinbase flagging fraud and making me verify my identity every time.
 
FartfulCodger said:

Up to this point, Kraken has treated me fine. I move funds from my checking account into Kraken, and I'm aware that a week has to pass before those funds become usable. Because of that, I keep some money sitting there at all times and plan in advance. Whenever a vendor needs to be paid, I send from Kraken to Exodus and then make the payment out of Exodus. Naturally, a bunch of fees pile up at each step.

No problems yet, but there's no telling what might be around the corner.

To me, Exodus functions as my burner wallet--I'm not clear on what you mean by buffer wallet. Kraken has no way of knowing who I eventually paid, so I figure I'm okay... at least for the time being.
Click to expand...
On the blockchain, all of it is visible to anyone. Where everything ends up can be traced by them. My wish is that privacy-focused chains such as Monero had wider adoption, since they build in far greater anonymity. It isn't flawless, but tracing it is harder than with nearly anything else.
 
Back
Top