www.silvermillerlaw.com Open in urlscan Pro
67.225.240.12  Public Scan

Form analysis
1 forms found in the DOM

POST /uncategorized/2017/12/13/kraken-ceo-jesse-powell-admits-no-defending-recent-state-kraken-platform-silver-miller-files-new-claims/?utm_source=google&utm_medium=cpc&utm_term=%2Bkraken&utm_content=239697839919&gclid=EAIaIQobChMIg_y3hsnN5wIV2oXVCh1MyQGzEAAYASAAEgLGs_D_BwE

<form method="post" enctype="multipart/form-data" id="gform_3" class="tmf-form"
  action="/uncategorized/2017/12/13/kraken-ceo-jesse-powell-admits-no-defending-recent-state-kraken-platform-silver-miller-files-new-claims/?utm_source=google&amp;utm_medium=cpc&amp;utm_term=%2Bkraken&amp;utm_content=239697839919&amp;gclid=EAIaIQobChMIg_y3hsnN5wIV2oXVCh1MyQGzEAAYASAAEgLGs_D_BwE">
  <div class="gform_body">
    <ul id="gform_fields_3" class="gform_fields top_label form_sublabel_below description_below">
      <li id="field_3_9" class="gfield gfield_contains_required field_sublabel_below field_description_below gfield_visibility_visible"><label class="gfield_label" for="input_3_9">Case / Defendant<span class="gfield_required">*</span></label>
        <div class="ginput_container ginput_container_text"><input name="input_9" id="input_3_9" type="text" value="" class="large" tabindex="1" aria-required="true" aria-invalid="false"></div>
      </li>
      <li id="field_3_1" class="gfield gfield_contains_required field_sublabel_hidden_label field_description_below gfield_visibility_visible"><label class="gfield_label gfield_label_before_complex" for="input_3_1_3">Full Name<span
            class="gfield_required">*</span></label>
        <div class="ginput_complex ginput_container no_prefix has_first_name no_middle_name no_last_name no_suffix gf_name_has_1 ginput_container_name gfield_trigger_change" id="input_3_1">
          <span id="input_3_1_3_container" class="name_first">
            <input type="text" name="input_1.3" id="input_3_1_3" value="" aria-label="First name" tabindex="3" aria-required="true" aria-invalid="false">
            <label for="input_3_1_3" class="hidden_sub_label screen-reader-text">First</label>
          </span>
        </div>
      </li>
      <li id="field_3_2" class="gfield gfield_contains_required field_sublabel_below field_description_below gfield_visibility_visible"><label class="gfield_label" for="input_3_2">E-mail Address<span class="gfield_required">*</span></label>
        <div class="ginput_container ginput_container_email">
          <input name="input_2" id="input_3_2" type="text" value="" class="large" tabindex="7" aria-required="true" aria-invalid="false">
        </div>
      </li>
      <li id="field_3_10" class="gfield gfield_contains_required field_sublabel_below field_description_below gfield_visibility_visible"><label class="gfield_label" for="input_3_10">State<span class="gfield_required">*</span></label>
        <div class="ginput_container ginput_container_select"><select name="input_10" id="input_3_10" class="large gfield_select" tabindex="8" aria-required="true" aria-invalid="false">
            <option value="Alabama">Alabama</option>
            <option value="Alaska">Alaska</option>
            <option value="Arizona">Arizona</option>
            <option value="Arkansas">Arkansas</option>
            <option value="California">California</option>
            <option value="Colorado">Colorado</option>
            <option value="Connecticut">Connecticut</option>
            <option value="Delaware">Delaware</option>
            <option value="District of Columbia">District of Columbia</option>
            <option value="Florida">Florida</option>
            <option value="Georgia">Georgia</option>
            <option value="Hawaii">Hawaii</option>
            <option value="Idaho">Idaho</option>
            <option value="Illinois">Illinois</option>
            <option value="Indiana">Indiana</option>
            <option value="Iowa">Iowa</option>
            <option value="Kansas">Kansas</option>
            <option value="Kentucky">Kentucky</option>
            <option value="Louisiana">Louisiana</option>
            <option value="Maine">Maine</option>
            <option value="Maryland">Maryland</option>
            <option value="Massachusetts">Massachusetts</option>
            <option value="Michigan">Michigan</option>
            <option value="Minnesota">Minnesota</option>
            <option value="Mississippi">Mississippi</option>
            <option value="Missouri">Missouri</option>
            <option value="Montana">Montana</option>
            <option value="Nebraska">Nebraska</option>
            <option value="Nevada">Nevada</option>
            <option value="New Hampshire">New Hampshire</option>
            <option value="New Jersey">New Jersey</option>
            <option value="New Mexico">New Mexico</option>
            <option value="New York">New York</option>
            <option value="North Carolina">North Carolina</option>
            <option value="North Dakota">North Dakota</option>
            <option value="Ohio">Ohio</option>
            <option value="Oklahoma">Oklahoma</option>
            <option value="Oregon">Oregon</option>
            <option value="Pennsylvania">Pennsylvania</option>
            <option value="Rhode Island">Rhode Island</option>
            <option value="South Carolina">South Carolina</option>
            <option value="South Dakota">South Dakota</option>
            <option value="Tennessee">Tennessee</option>
            <option value="Texas">Texas</option>
            <option value="Utah">Utah</option>
            <option value="Vermont">Vermont</option>
            <option value="Virginia">Virginia</option>
            <option value="Washington">Washington</option>
            <option value="West Virginia">West Virginia</option>
            <option value="Wisconsin">Wisconsin</option>
            <option value="Wyoming">Wyoming</option>
            <option value="Armed Forces Americas">Armed Forces Americas</option>
            <option value="Armed Forces Europe">Armed Forces Europe</option>
            <option value="Armed Forces Pacific">Armed Forces Pacific</option>
          </select></div>
      </li>
      <li id="field_3_7" class="gfield gfield_contains_required field_sublabel_below field_description_below gfield_visibility_visible"><label class="gfield_label" for="input_3_7">Telephone Number<span class="gfield_required">*</span></label>
        <div class="ginput_container ginput_container_phone"><input name="input_7" id="input_3_7" type="text" value="" class="large" tabindex="9" aria-required="true" aria-invalid="false"></div>
      </li>
      <li id="field_3_12" class="gfield gfield_contains_required field_sublabel_below field_description_below gfield_visibility_visible"><label class="gfield_label">Value of Monetary Loss<span class="gfield_required">*</span></label>
        <div class="ginput_container ginput_container_checkbox">
          <ul class="gfield_checkbox" id="input_3_12">
            <li class="gchoice_3_12_1">
              <input name="input_12.1" type="checkbox" value="$0 - $50,000" id="choice_3_12_1" tabindex="10">
              <label for="choice_3_12_1" id="label_3_12_1">$0 - $50,000</label>
            </li>
            <li class="gchoice_3_12_2">
              <input name="input_12.2" type="checkbox" value="$50,000 - $100,000" id="choice_3_12_2" tabindex="11">
              <label for="choice_3_12_2" id="label_3_12_2">$50,000 - $100,000</label>
            </li>
            <li class="gchoice_3_12_3">
              <input name="input_12.3" type="checkbox" value="$100,000 - $250,000" id="choice_3_12_3" tabindex="12">
              <label for="choice_3_12_3" id="label_3_12_3">$100,000 - $250,000</label>
            </li>
            <li class="gchoice_3_12_4">
              <input name="input_12.4" type="checkbox" value="$250,000 - $500,000" id="choice_3_12_4" tabindex="13">
              <label for="choice_3_12_4" id="label_3_12_4">$250,000 - $500,000</label>
            </li>
            <li class="gchoice_3_12_5">
              <input name="input_12.5" type="checkbox" value="$500,000 - $1 million" id="choice_3_12_5" tabindex="14">
              <label for="choice_3_12_5" id="label_3_12_5">$500,000 - $1 million</label>
            </li>
            <li class="gchoice_3_12_6">
              <input name="input_12.6" type="checkbox" value="$1 million+" id="choice_3_12_6" tabindex="15">
              <label for="choice_3_12_6" id="label_3_12_6">$1 million+</label>
            </li>
          </ul>
        </div>
      </li>
      <li id="field_3_4" class="gfield gfield_contains_required field_sublabel_below field_description_below gfield_visibility_visible"><label class="gfield_label" for="input_3_4">Message<span class="gfield_required">*</span></label>
        <div class="ginput_container ginput_container_textarea"><textarea name="input_4" id="input_3_4" class="textarea small" tabindex="16" placeholder="Please include your message here" aria-required="true" aria-invalid="false" rows="10"
            cols="50"></textarea></div>
      </li>
      <li id="field_3_8" class="gfield field_sublabel_below field_description_below hidden_label gfield_visibility_visible"><label class="gfield_label" for="input_3_8">CAPTCHA</label>
        <div id="input_3_8" class="ginput_container ginput_recaptcha" data-sitekey="6Ld6QjQUAAAAAKdVsCJxYNNAb_P4UdPubz2gH_Rr" data-theme="light" data-tabindex="17">
          <div style="width: 304px; height: 78px;">
            <div><iframe
                src="https://www.google.com/recaptcha/api2/anchor?ar=1&amp;k=6Ld6QjQUAAAAAKdVsCJxYNNAb_P4UdPubz2gH_Rr&amp;co=aHR0cHM6Ly93d3cuc2lsdmVybWlsbGVybGF3LmNvbTo0NDM.&amp;hl=en&amp;v=JZfekeK8w6ZlhLfH_ZyseSLX&amp;theme=light&amp;size=normal&amp;cb=ces18wdk7t1l"
                width="304" height="78" role="presentation" name="a-rzlon9pptjsq" frameborder="0" scrolling="no" sandbox="allow-forms allow-popups allow-same-origin allow-scripts allow-top-navigation allow-modals allow-popups-to-escape-sandbox"
                tabindex="17"></iframe></div><textarea id="g-recaptcha-response" name="g-recaptcha-response" class="g-recaptcha-response"
              style="width: 250px; height: 40px; border: 1px solid rgb(193, 193, 193); margin: 10px 25px; padding: 0px; resize: none; display: none;"></textarea>
          </div>
        </div>
      </li>
      <li id="field_3_13" class="gfield gform_validation_container field_sublabel_below field_description_below gfield_visibility_"><label class="gfield_label" for="input_3_13">Phone</label>
        <div class="ginput_container"><input name="input_13" id="input_3_13" type="text" value=""></div>
        <div class="gfield_description">This field is for validation purposes and should be left unchanged.</div>
      </li>
    </ul>
  </div>
  <div class="gform_footer top_label"> <input type="submit" id="gform_submit_button_3" class="gform_button button" value="Submit and Silver Miller will get back to you" tabindex="18"
      onclick="if(window[&quot;gf_submitting_3&quot;]){return false;}  window[&quot;gf_submitting_3&quot;]=true;  "
      onkeypress="if( event.keyCode == 13 ){ if(window[&quot;gf_submitting_3&quot;]){return false;} window[&quot;gf_submitting_3&quot;]=true;  jQuery(&quot;#gform_3&quot;).trigger(&quot;submit&quot;,[true]); }">
    <input type="hidden" class="gform_hidden" name="is_submit_3" value="1">
    <input type="hidden" class="gform_hidden" name="gform_submit" value="3">
    <input type="hidden" class="gform_hidden" name="gform_unique_id" value="">
    <input type="hidden" class="gform_hidden" name="state_3" value="WyJbXSIsIjUyNzhlY2NhNzRkYmNmMzYyNWY0ZTQ2MGFkNjdlZjkzIl0=">
    <input type="hidden" class="gform_hidden" name="gform_target_page_number_3" id="gform_target_page_number_3" value="0">
    <input type="hidden" class="gform_hidden" name="gform_source_page_number_3" id="gform_source_page_number_3" value="1">
    <input type="hidden" name="gform_field_values" value="">
  </div>
</form>

Text Content

Florida (954) 516-6000
Maryland (240) 516-6000
Washington, D.C. (202) 852-6000

A SECURITIES FRAUD AND INVESTMENT LOSS CONTINGENCY-FEE LAW FIRM
Menu
 * Home
 * About Us
    * Who We Are
    * Our Attorneys
    * Honors and Awards
    * Giving Back
    * Employment

 * Practice Areas
    * Business Litigation
    * Investment Fraud
    * Digital Investments (Cryptocurrency)
    * Class Actions
    * Whistleblower Claims
    * Labor & Employment Law
    * Professional Malpractice
    * Real Estate Litigation
    * Shareholder & Partnership Disputes
    * Probate, Trust & Estate Litigation

 * Cases
    * Active Cases
    * Judgments & Settlements

 * Current Investigations
    * Cellphone SIM/Port Hijacking (Crypto)
    * Atonomi ICO Securities Law Violations
    * Kraken Exchange
    * Coinbase Class Action
    * Initial Coin Offerings (ICO) Fraud
    * Oil, Gas, and Energy Investment Losses
    * Ponzi Scheme Fraud Investigation
    * Accountant Malpractice
    * Elder Financial Fraud
    * Tezos Class Action

 * Press
    * In the News
    * Videos

 * Contact Us


LEARN ABOUT OUR ACTIVE LAWSUITS AND INVESTIGATIONS
Home » KRAKEN CEO JESSE POWELL ADMITS…


KRAKEN CEO JESSE POWELL ADMITS THERE IS “NO DEFENDING THE RECENT STATE OF THE
[KRAKEN] PLATFORM”; SILVER MILLER FILES NEW CLAIMS

December 13th, 2017


While cryptocurrency exchange Payward, Inc. d/b/a Kraken (“Kraken”) has
advertised itself for years as being the “best Bitcoin exchange” and has claimed
that it provides “sound and reliable” access and support every hour of every day
of the year, Kraken’s own Chief Executive Officer (Jesse Powell) has publicly
conceded that Kraken’s promises of security and reliability are false and that
Kraken’s business operations have long-been broken beyond repair. In a recent
Reddit exchange with users, Mr. Powell admitted that there is “no defending the
recent state of the platform” and that Kraken has given up “applying more
Band-Aids” to its irretrievably broken system. Rather than shutting down its
system or even notifying its users of the known flaws that pervaded its
platform, Kraken pretended that everything was fine and continued charging its
standard fees for services that even Kraken knew were substandard. In many
instances, accountholders who complained of harm as a result of the slowdowns,
shutdowns, security gaps, and system failures at Kraken were stonewalled by
Kraken, which defended its refusal to compensate those injured clients in the
face of what even Mr. Powell himself has described as an indefensibly-broken
platform.

Earlier this year, Silver Miller -- along with the Wites Law Firm -- commenced
an arbitration proceeding against Kraken on behalf of more than two dozen
aggrieved Kraken accountholders who were victims of Kraken’s various system
failures and who suffered damages calculated at nearly Eighteen Million Dollars
($18,000,000.00). Since Mr. Powell’s public statements, nearly a half-dozen more
Kraken users have joined the action, where the total damages claimed in a
just-filed Amended Statement of Claim are now nearly Thirty Eight Million
Dollars ($38,000,000.00). Some of the victims had their margin accounts at
Kraken forcibly liquidated in a May 7, 2017 “flash crash” that saw Kraken’s
Ether market plummet nearly 75% in value, only to see the value restored to
nearly its full value an hour later. Some of the victims suffered from Kraken
taking too long to process trading orders or, in many instances, repeatedly
rejecting valid trading orders because Kraken’s system was overwhelmed and could
not handle the user traffic. One of the victims alerted Kraken of a hacker’s
infiltration into his account and was assured by Kraken that his account assets
were fully secured and could not be moved . . . and the victim then watched in
horror later that day as the hacker emptied the user’s account with no
interference from Kraken. While the path to their harm varies slightly, the
common theme amongst all of the victims is that they suffered at the hands of
Kraken’s malfunctioning, or non-functioning, system and porous security
protocols.

We will vigorously pursue our clients’ claims until Kraken’s actions match up
with its own CEO’s words: that there is “no defending” the problems at Kraken
that caused our clients’ harm, and that each injured claimant should be fairly
compensated for his loss. Anything less would belie the public statement Mr.
Powell gave last year when working with a court-appointed trustee to unwind the
harm suffered by accountholders at the now-defunct Mt. Gox exchange: “Kraken is
proud to volunteer our resources and expertise in an attempt to minimize damages
to [victims], restore faith in the Bitcoin community, and demonstrate trusted
leadership in the industry.”

Silver Miller currently represents the victims in lawsuits against multiple
cryptocurrency exchanges (Cryptsy; Coinbase; Kraken). If you have lost money at
a cryptocurrency exchange or are concerned that the services advertised to get
you to open an account were not matched by the services actually provided to you
as an accountholder, contact Silver Miller contact us for a no-cost,
no-obligation consultation to discuss your legal rights.

See the Amended Statement of Claim:

[Confidential] v. Kraken

Categories: Uncategorized



CONFIDENTIAL FREE CONSULTATION

 * Case / Defendant*
   
 * Full Name*
   First
 * E-mail Address*
   
 * State*
   AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of
   ColumbiaFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew
   HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth
   DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth
   DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest
   VirginiaWisconsinWyomingArmed Forces AmericasArmed Forces EuropeArmed Forces
   Pacific
 * Telephone Number*
   
 * Value of Monetary Loss*
    * $0 - $50,000
    * $50,000 - $100,000
    * $100,000 - $250,000
    * $250,000 - $500,000
    * $500,000 - $1 million
    * $1 million+

 * Message*
   
 * CAPTCHA
   
 * Phone
   
   This field is for validation purposes and should be left unchanged.






CONTACT US


FLORIDA (MAIN) OFFICE

11780 W Sample Road

Coral Springs, Florida 33065
Phone: (954) 516-6000


MARYLAND OFFICE

5400 Kenilworth Avenue

Riverdale, Maryland 20737
Phone: (240) 516-6000
(Satellite – By Appointment Only)


WASHINGTON, D.C. OFFICE

1100 Connecticut Avenue, N.W.

Washington, D.C. 20036
Phone: (202) 852-6000
(Satellite – By Appointment Only)





© 2020 Silver Miller
View Our Disclaimer  |  Privacy Policy
Law Firm Website Design by The Modern Firm

Copyright © 2020 Silver Miller