therage on Nostr: 🔴 Kraken Backs Down After Questioning Customers About Their Monero Withdrawals On ...

🔴 Kraken Backs Down After Questioning Customers About Their Monero Withdrawals

On October 23, users reported that Kraken was emailing people who withdrew Monero, asking what they planned to do with their coins. The requests included questions on employment details, bank statements, and proof of the origin of the funds used to buy XMR.

In response, Kraken co-CEO Arjun Sethi confirmed the exchange had sent the emails. He said the requests were wrong, that no rule required them, and that affected customers had been told they no longer needed to respond.

“Where your money came from is a fair question. What you do with it after it leaves is not,” Sethi said.

The exchange can still request information about the source of customers’ funds.
It also maintains a withdrawal limit of $1,500 in XMR per individual account over a rolling 30-day period.