I opened an account with Kraken and had my account verified. I bought a little BTC as a trial and when everything went through ok, I transferred over more money. Bank transfers take 1 week to clear for the money or purchased crypto to be withdrawn. A couple days after I transferred my money over, I got an email with this message "Unfortunately, we must inform you that we will be closing your Kraken account. For security purposes, we cannot disclose the reason for this action." I was then made to convert all BTC bought back into USD and given 72 hours to withdraw funds. This of course made me panic since 72 hours still was within the 1 week hold period. I had a lot of stressful conversations with support until I was finally told that the 72 hours would begin after the week hold was up, thankfully. So fortunately I was actually able to get my money back out, but I paid several hundred dollars in fees to buy the BTC and then convert it back to USD, and they would not refund me the fees. Not fair since it wasn't my choice and there was absolutely no reason to close my account to begin with. Or if there was a reason, they could have at least told me what it was and given me more of a warning or just not verified my account to start with.
