Consumer complaint received 2021-06-24
Company: Payward Ventures Inc. dba Kraken
State: MA
Product: Money transfer, virtual currency, or money service
Sub-product: Virtual currency
Issue: Other transaction problem

Complaint:
Kraken Support Ticket : ( # XXXX ) # Complaint # I am a customer of Kraken ( www.kraken.com ), a digital asset exchange. ( Note : Kraken ( www.kraken.com ) is a XXXX registered corporation under the name Payward Ventures , Inc., XXXX XXXX XXXX # XXXX, XXXX XXXX, CA XXXX ) On XXXX XX/XX/2021, I withdrew XXXX Bitcoin  ( XXXX Withdrawal Ref-ID : XXXX- XXXX ), equivalent to approximately {$4100.00} at the time, directly from my Kraken account to a destination Bitcoin address provided by XXXX , a different digital asset exchange. 

Unfortunately, the transfer to XXXX failed and I was informed by XXXX Support that my Bitcoin was automatically refunded to Kraken. 

When, after a few days, I did not see the refunded Bitcoin appear in my Kraken account, I contacted Kraken Support on XXXX XX/XX/2021. Kraken Support created a ticket ( # XXXX ) and forwarded the matter to a specialist Support team that handles refund issues. 

Over the course of several months, I have exchanged numerous emails with the Kraken Support specialist team trying to resolve case ( # XXXX ) and get my refunded Bitcoin returned to my account. In addition, I have provided all the information that Kraken has requested of me so that this matter could be resolved in a timely manner, including verification from XXXX of the refund as well as the Bitcoin transaction id of the refund, both of which XXXX kindly provided. 

Most recently, I was told that this matter would be escalated a second time to a Support manager who would contact me shortly, however the Support manager never contacted me. 

It is now nearly 3 months and I have heard mostly excuses about the complexity of Krakens internal wallet processes, and received only vague and indefinite information about when and if this matter will ever be resolved, and no assurance that my Bitcoin assets will be returned to my account. 

Over the course of my email exchange with Kraken, I have been told the following at various times : I can confirm it's currently with a batch of other clients returned deposits. We locate & credit these funds in batches. 
Our developers are working on recovering the funds, but this will take some time. 
But even if we decided to recover the funds, we can not make an estimate about when your funds might be recovered. 

This matter is simple and straightforward. Due to a transaction error, funds that I withdrew from Kraken to XXXX were automatically refunded back to me. At Krakens request, I provided verification from XXXX that a refund to me had occurred as well as the Bitcoin transaction id of the refund.

Kraken acknowledges that the refunded Bitcoin was returned to a Kraken wallet and hence Kraken is in possession of my refunded Bitcoin. I respectfully ask this Agency to help me obtain the following from Kraken : 1. A written commitment from Kraken that Kraken will return my refunded Bitcoin to my account 2. A clear timeline and date as to when my refunded Bitcoin will be returned to my account

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation