Mt. Gox Creditors On Kraken Receive No Bitcoin Payments

Kraken, a prominent crypto exchange, is facing criticism due to rejection of Bitcoin (BTC) payouts to creditors involved in the Mt. Gox bankruptcy proceedings.

Kraken, a major crypto exchange, is facing criticism for refusing to pay out Bitcoin (BTC) to creditors involved in the Mt. Gox bankruptcy proceedings, despite their claims of being fully verified. These issues have left many users confused and frustrated.

The controversy highlights the ongoing problems related to the verification and payout processes following the exchange insolvency.

Mt. Gox Creditors on Kraken Not Receiving Bitcoin PaymentsSeveral posts on the Mt Gox insolvency subreddit from users affected by this issue show that Kraken has repeatedly told them that their account verification levels are too low to process the BTC transfers.

One user said that they received an email from Kraken stating that their account is not verified at the intermediate or pro level, which is needed to receive the payouts. They said that they reached out to Kraken for clarification but received the same notification again months later.

“Failure of confirmation by Kraken (again) to complete the payout,” one user complained in a post.

Another user posted, “I had received this email, saying my account level was not intermediate/pro level and I was not able to get my BTC transfer done.”

To add to the confusion, the link provided by Kraken for verification details leads to a message indicating delays due to the high volume of verification requests from creditors, further impacting those expecting a timely resolution.

“Even though I queried and responded to an email from the trustees in January, they still think I am unverified. Infuriating incompetence,” one user highlighted.

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