Kraken, is this how you treat new customers?
I opened a Kraken account and first made a small €10 deposit from my personal bank account to verify that everything worked correctly. All went quick (seconds) and well (amount credited).
Afterwards, I sent €7,990 via SEPA from the same personal bank account. Shortly after, my Kraken account was temporarily restricted due to a security review. The chatbot acknowledges that the deposit is on hold but the amount has not yet been credited to my account.
Days are passing and my account and funds are still restricted.
What concerns me most is that Kraken has not requested any documents or additional information from me. I am fully willing to provide proof of source of funds, bank statements, proof of account ownership or anything else required.
Support has already escalated the case, but I have received no substantive update.
I completely understand that exchanges have AML, fraud prevention and security obligations. What I don’t understand is how funds can remain inaccessible for this long without Kraken requesting any information from me or providing a meaningful timeline.
Could someone from Kraken Support please look into this and make sure the case has actually reached the appropriate review team?