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
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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.
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Hi Jesse, thanks for the response. What is your compensation policy then? The people I see discussing this are reporting very different amounts.
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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.
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Thanks for clarifying, I will add that in a footnote to the article.
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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.
Thanks. My account is still negative .32074 so I can’t say I’m happy but I’m trying to wait patiently while this is figured out
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Same, no refund, still waiting....
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I was given $200 in refund on my $24,000 loss. it's not even 1%. only a very few people are happy. Most are still agitated and unhappy
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