Kraken clients see red after Monday flash crash. Aggrieved investors seek compensation after 66pct wipe-out on #ethereum. Exchange denies liability but makes offers of between 5-50pct of losses
Conversation
Hey, Paul. You're right that we don't make markets on the exchange. Trades were all user-user and matching worked as expected. We're coming out of pocket to help some people out for the sake of client retention. Where you'll find the difference is in how people do the math.
4
1
2
Hi Jesse, thanks for the response. What is your compensation policy then? The people I see discussing this are reporting very different amounts.
3
Replying to
Larger cases are evaluated individually. Smaller cases received an automatic credit. Amounts are based on what they would have received had the price floor been what it was at another venue. Generally, 80-100% of that is credited, combo of cash + fee credits.
Sure thing. Most people have been happy. Some people are still unhappy and we're speaking to them. We'll do what we can but we won't bend over backwards to meet unreasonable demands. We're confident in our position. Hope to keep clients satisfied but not at any price.
3
4
Show replies
What will be done for people who had negative balance?
1
We don't plan to pursue anyone for collection of negative balances at this time but if you're not happy with the credit you received, please submit a support ticket and someone will review your case.
2
3
Show replies
Hey Jesse, i was offered less than 20% amount and i have been following up with support team about correcting that amount, answer i am getting is they are still working on it. I hope this gets resolved soon.
Jesse 300k USD loss when I have over a mil USD in kraken and PRO client is large enough. Yet I am ignored when I want to discuss the issue. Got about 14.5k USD refund ! Is that percentage I read? Not. Please contact me DM, email, phone, zoom.
1
2
2
