Staying safe from fraud and scams

Last updated: 19 tháng 5, 2026

Report a scam here

Krak moves money around the world every second of every day. That makes us, and our clients, a target for fraud.

One of our team’s top priorities is to protect our clients and keep their money safe. Below you’ll find information on how scams work, what warning signs look like, and exactly what to do if something goes wrong.

Krak will never ask for your PIN, password, or full card number by any channel.

The golden rule

If an opportunity feels too good to be true, it almost certainly is. Scammers are professionals – they invest time, create urgency, and build trust before striking. Pause before you pay, and remember: once a transfer leaves Krak, it is very difficult to reverse.

You're contacted – usually out of the blue, via social media, Whatsapp, or unsolicited phone call – about an investment offering unusually high returns. It might be foreign exchange trading, cryptocurrency, rare commodities, or a company "about to go public." The scammer builds credibility slowly, may even pay out small "profits" early, then persuades you to put in more. When you try to withdraw, the money is gone.

Pig butchering is a sophisticated variant: scammers spend weeks or months building a relationship before introducing the investment, making victims feel genuinely known and trusted.

How to protect yourself

  • Verify the firm — check it's registered with your national financial regulator (FCA in the UK, SEC in the US, etc.) using the regulator's official website, not any link the contact sends you. Be wary of investment offers that sound too good to be true, offer unrealistic or guaranteed returns.

  • Watch for clone firms — scammers often impersonate real, authorised companies and can supply convincing-looking credentials. Call the firm back on a number you independently find.

  • Conduct thorough research – check multiple sources for any red flags or warnings from other investors. All new investments should be approached with extreme caution before investing.

  • Get independent advice — a qualified financial adviser can review any investment before you commit money.

A stranger contacts you through a dating app or social media and quickly develops a warm, trusting relationship. They may claim to be a doctor, engineer, or military professional working abroad. After weeks or months of emotional investment, they ask for money — perhaps for a medical emergency, a flight to visit you, or a business opportunity they want to share with you. The money, and the person, disappear.

How to protect yourself

  • Never send money to someone you have not met in person, regardless of how well you feel you know them.

  • Reverse image search their profile photos — stolen images are common in romance scams.

  • Be careful with personal information — scammers use what you share to personalise their manipulation, and sometimes to blackmail.

Someone contacts you pretending to be from Krak, your bank, your company, a government body (HMRC, the police, a court), a utility company, a public figure or even a friend in trouble. They may spoof a real phone number, AI voice cloning to sound like a friend or family member, email address to look convincing.

How to avoid AI voice spoofing scams

  • Create a Secret Code Word — Establish a secret phrase with family members to verify identities.

  • Be Wary of Urgency — Scammers often push for fast action, such as wire transfers or gift card payments.

  • Verify Independently — Hang up and call the person back on their known, official number.

Their goal is to get your login credentials, one-time passcodes, card details, or to instruct you to make a payment.

Krak will never ask for your one-time passcode, password, or full card number over the phone, by email, or via text. If someone asks for these, end the contact immediately and report it to us.

If you receive an email from Krak any other address besides @kraken.com, @futures.kraken.com, or @email2.kraken.com, @email.krak.app, please do not click on any links that may be provided, as they are not legitimately from Kraken Support and should not be trusted.

Our marketing emails are sent via the domain @marketing.kraken.com,@email.kraken.com, or @rewards-email.kraken.com and can be considered safe if you receive them in your inbox. More email addresses can be found here.

Our social media team provides general support, but never give them sensitive information.

How to protect yourself

  • Hang up and contact our Support Team directly in the app to inform us of the situation. Don't trust the number on your screen.

  • Never share OTPs — one-time passcodes are the keys to your account. No legitimate organisation will ask for them.

  • Check the Krak app directly — any real security alerts from us will appear inside the app, not just over the phone.

You find a deal that seems excellent — a concert ticket, marketplace, a luxury item at a steep discount, a holiday rental, a pet. You pay via bank transfer or app payment. The item never arrives, the property doesn't exist, or the seller vanishes. Rental scams are particularly common with holiday villas: fraudsters create convincing listings using photos stolen from legitimate properties.

How to protect yourself

  • Keep all communication and payments on-platform — legitimate sellers on marketplace sites have no reason to move contact elsewhere. Off-platform conversations void buyer protections.

  • Research before paying — look up the property address, check reviews, and ask questions about the local area that a real owner would easily answer.

Think you've been scammed?

Act quickly — every minute matters. Here's exactly what to do. If you're in immediate physical danger, call emergency services first.

  1. 1

    Contact Krak immediately
    Open the app and go to Settings → Support. Our team is available 24/7 and may be able to halt or recall the payment before it settles. Or contact us here.

  2. 2

    Don't make any more payments
    Scammers often follow a first payment with requests for "fees" to release your money. Once you're aware you've been scammed, stop all contact.

  3. 3

    Report to your national authority
    UK: Action Fraud (0300 123 2040).
    US: FTC (reportfraud.ftc.gov).
    EU: contact your national police cybercrime unit.

  4. 4

    Secure your accounts
    Change your Krak PIN and password immediately. If you shared login details, do the same for any account using the same credentials.

Our commitment to your security

Real-time transaction monitoring
Our systems flag unusual payments 24/7 and may pause transfers that match known fraud patterns.

Confirmation of Payee
We check that the account name matches before you send money via bank transfers on FPS and SEPA payment networks, so misdirected payments are caught early.

We'll never ask for your PIN
No Krak or Kraken employee will ever ask for your password, PIN, or one-time code — by phone, email, or chat.

For further information regarding additional risks associated with cryptocurrency trading and Kraken’s exchange related services please read through this support article.

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