If you also want to help them by sharing some contacts of a specialized attorney or any person who may help in this situation. Feel free to sign up as well and leave a message in the comment field.
Thank you guyz for your support to my user. He really needs your help and I thank for this.
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I'll state this once again : Kraken is almost certainly not responsible, the goal here is not to call for a scam orchestrated by the exchange, but more to raise suspicion of a predator speculative action, in a depth I've never seen before. And that facing the amount of BTC targeted, users concerned should join to build a legal request to open the books. At best, Kraken will just have to release informations about the account holder responsible for the speculative action to the prosecutors. And even that is very hard to say at that point. Only a specialized attorney will be able to say what is going to be possible or not. Please don't misunderstand the goal here... It has never been about Kraken, they're not responsible for the actions of their clients obviously. So please don't post negative comments about Kraken, whoever does that is just totally out of context here. Once again, the only goal pursued here is to help users to gather if they want to ask for legal action to investigate further.
Lol, someone fat-fingered an order and blew the order-book, and you are calling for legal action against that person? Did you lose on your margin long position? That's the only reason for you crying here. If you held BTC spot or a long without stop-loss, you wouldn't have been affected. You are trading on a platform with thin liquidity and order books, grow up and take responsability for your own actions.
bdadon
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Hey Phil, and guy who got stuck in that wick. My advice is to go to another exchange and do your home work on exchanges and currency your trading on by viewing previous price history.
Kraken Euro pairs, especially their margin coins like BTC have huge wicks. There is little liquity adding leveraged Margin trading = major spikes.
@bdadon, Many forgetting that 13Jan wick is day after kraken did upgrade and opened trades, thus orderbook was mostly empty. Almost all pairs on that day had weird wicks but with very low volume.
Kub0Lo
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I have moved away from those scumbags, firstly there are no stop loses options available and then when the market moves and you want to buy or sell and its a significant move they claim that the servers are down. I have moved my whole portfolio away from those scammers as each time funny enough when you really need to buy/sell at significant support/resistance the excuse is that servers over overloaded. LOL with current volume compared to December time this is bullshit
SpaceCatZ
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@Kub0Lo, They do have stop loss order but not working properly at the moment.
kontrol
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@SpaceCatZ, At the moment? LoL It has not been working properly at least from jun 2017. I stopped trading there last year because those f#cks dont give a shit when your stop losses dont trigger when the price goes down but when the price goes up. Or when the site stops working on pumps, or the interface gives you wrong data... All sorts of shady stuff going on there.
STAY AWAY FROM KRAKEN!!! STAY AWAY FROM KRAKEN!!! STAY AWAY FROM KRAKEN!!! STAY AWAY FROM KRAKEN!!! STAY AWAY FROM KRAKEN!!! STAY AWAY FROM KRAKEN!!! STAY AWAY FROM KRAKEN!!! STAY AWAY FROM KRAKEN!!! STAY AWAY FROM KRAKEN!!! STAY AWAY FROM KRAKEN!!! STAY AWAY FROM KRAKEN!!! STAY AWAY FROM KRAKEN!!!
befunkt
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@kontrol, While caps-lock-Sunday isn't really my thing, I totally agree with you. The site connectivity drops out at the *most* inconvenient moments. This is easily explained by high volume / servers overflowing with traffic, but from what i read, it has gone on for years without being remedied. Add more servers. Fix the trade algorithms. Anything.
I just witnessed Binance lag for the first time since I joined (after leaving Kraken in April), and it was for about 5 minutes, just as BTC crashed a few weeks ago. 5 mins! Totally excusable, and I bet they added more processing power to their trade engine after that.
Kub0Lo
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Haha yes they have it but try to use it, it will create a market order@SpaceCatZ,
JimmyDoesASX
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@Kub0Lo, you can never relay on a stop loss as a trader, it's a form of measurement to mitigate the risk in the trade(s) you open. You should make yourself aware of the risk(s) involved with trading, no matter what country you are from. I believe some education for yourself is key here, doesn't even have to be formal education.
A sound Strategy, is what will help you improve throughout.