Kraken user claims 1.6 BTC missing with 37 pages of trades executed

01 May, 2019
by Ryan Boltman
News
Kraken user claims 1.6 BTC missing with 37 pages of trades executed

A Kraken user has taken to Reddit to describe their 24 hour experience on Kraken, following the loss of $8,500 in BTC. 

The Kraken user took to Reddit to explain the bizarre happenings on his account. The user claimed to have funded 1.6 BTC to sell into fiat, but went to sleep before the transaction could clear. The user explains that the funds have vanished from the account, and strangely enough 37 pages of unauthorized trades had also been executed on the account.

The user also explains that at one point their account was way higher than the deposited amount. While Kraken have refused to comment on the matter, users on Reddit suspect that either user negligence has occurred or a hack on the account has happened. Some users even suspected money laundering from the hackers, as they move funds between hacked accounts and sell the currencies to other accounts.

So far no proof of anything other than the fact that the user deposited the funds into his account have been seen as proof on Reddit. However, the most alarming part is that the funds were not even on the exchange for 24 hours before the occured.

Had my Kraken account go to zero with no withdrawals or transfers (please help me get Krakens attention) from r/CryptoCurrency

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Whatever has happened on the users Kraken account, it most certainly appears to be shady. With over 37 pages of trades, it seems like there is a well organized unit of hackers moving funds between compromised accounts and selling off their assets into other accounts on smaller traded tokens. 

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Read more about: Kraken Bitcoin (BTC)

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