Consumer complaint received 2024-05-13 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Other transaction problem — 
Company: Payward Ventures Inc. dba Kraken
State: CA

Complaint narrative:
I bought a membership in XXXX to trade XXXX. They encouraged me to use XXXX to secure my crypto coins. I funded the account ( account number : XXXX ) on XX/XX/2024 with a money transfer of {$500.00}. from my XXXX XXXX account. I invested {$50.00}. in XXXX and left the remaining {$450.00}. in my cash account. Several days later I got a bogus " CRITICAL SECURITY ALERT '' in an email requiring me to follow XXXX arduous steps to reopen my account. So I purchased a computer protection program, hired an IT professional to " scrub '' my computer, ( he found nothing ) and followed the remaining steps followed by an email certifying that all had been accomplished and included in my email their " catch phrase '' to certify that I am not a robot I suppose or possibly to protect themselves from liability. All this was a waste of time since they did not reopen my account. They required me to do it all again, which I did. Still no access. So they blocked my account from trading or withdrawing funds and started a 2 month long journey that has resulted in my account being complete locked. I requested that they sell my XXXX for XXXX $ and return it to my cash account and then return all my assets, now presumably all cash, to my original funding source which is my XXXX XXXX account and then close my XXXX  account. You must understand that you can not talk to anyone. All this must be done by email. So I have now dealt with no less than XXXX different individuals emailing me their demands but who never respond to my email reply. It is always another representative who pretends that it is necessary to start over. They request me to transfer my coin assets back to cash and then withdraw my cash back to my band. I repeatedly inform them that I can not do that since my account has been locked for weeks. Then they send me a XXXX hour notice stating that I must do the transfer within the XXXX hours as my account will be closed after that period. Twice they have sent that message. I required them to supply me with a ledger of my account activities and whatever tax forms will be required for my 2024 year tax filings and return the assets to my bank account. This has never been done. XXXX weeks ago I was notified via email that once my account was closed I would not be able to open another account with XXXX. No big deal, that was my intention, but a slap in the face nonetheless. But still no money has been returned to me. I am a XXXX XXXX XXXX man XXXX XXXX XXXX XXXX XXXX  and was just trying to make a little money for my new wife and to help prepare for my passing in the not to distant future. I can't really afford to lose the money though I can still buy food. I checked with the XXXX  and found many complaints nearly identical to mine with some differences. Some people had lost tens of thousands of dollars. That made me feel not quite so XXXX but i have beaten myself pretty badly over this and my stress level is through the roof. I can hardly sleep at night. Can you please help me? Thank you so much. Sincerely XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation