Kraken's Trustpilot Ratings | Users Call Out Account Restrictions
Edited By
Liam O'Donnell
A wave of discontent is hitting Kraken's online reviews, particularly on Trustpilot, where the platform holds a dismal average rating of 1.4 stars. Users express concern over accounts being blocked without clear reasons, with some claiming that funds are held indefinitely, raising alarms about security practices and customer trust.
Chilling Experiences Shared by Users
Many experiences gathered from various user boards paint a troubling picture of Kraken's customer service. Notably, one user indicated, "They are thieves/scam," within the growing chorus of disillusioned traders. Others echoed dissatisfaction, stating that account freezes leave them unable to withdraw their money.
Mixed Reactions: Loyalty vs. Distrust
Interestingly, while some users remain loyal, citing years of positive trading experiences, others have experienced severe issues. Comments reveal:
Quick and Polite Resolutions: One user mentioned, "Been using Kraken with good success for many years" highlighting reliable service despite a few hiccups.
Extreme Reporting Bias: Another commenter remarked that platforms like Trustpilot are often vehicles for complaints, suggesting that negative reviews can overshadow positive experiences.
Alarming Management Changes: Concerns were raised about a notable shift in Kraken's management and practices, which some claim has resulted in an influx of problematic account freezes: "They wouldn't allow the frozen accounts to transfer any coins"
Key Takeaways
🟥 1.4-star average on Trustpilot raises suspicions
✅ "A very dependable company" to some long-time users
⚠️ Management changes may have affected service quality
"They went from clean as a whistle to coinbase type antics."
As Kraken faces increasing scrutiny over its handling of accounts and user funds, the debate continues: can trust be rebuilt, or is it too late for some?