Social-Media Giveaway Impersonating Kraken Cryptocurrency Exchange
Fake Kraken accounts on X/Twitter and Telegram run 'deposit and double' or 'wallet-verify' giveaway campaigns, harvesting cryptocurrency from victims who believe they are participating in an official Kraken promotion.
Part of: Social Media Giveaway Impersonation Scam
Last reviewed: 8 June 2026
Kraken's strong reputation for security and compliance makes its brand paradoxically attractive to scammers — victims trust a Kraken-branded promotion more than a generic one. Criminals create fake Kraken accounts with near-identical profile images and usernames, then run giveaway campaigns on social media that leverage Kraken's credibility to lower victims' defences.
The promotions typically appear as reply threads under genuine Kraken posts, as promoted posts on Twitter, or as pinned messages in Telegram groups claiming to be official Kraken communities. The consistent mechanism is the 'send to receive more' promise: send a small amount of cryptocurrency to a provided address and receive double or more in return.
Kraken's genuine promotions — trading competitions, referral bonuses, staking rewards — require no upfront cryptocurrency transfer. Any Kraken-branded giveaway asking you to send funds first is a scam.
How this scam works on the Kraken brand
Real Kraken promotional communications appear on kraken.com's blog, in the verified @krakenfx Twitter account, and in Kraken's official app notifications. Kraken does not run 'send to receive' promotions and does not conduct giveaways through unverified social-media profiles.
The fake giveaway unfolds on social media. An account using Kraken's logo posts: 'Kraken is celebrating 10 million users — we are giving away 50 BTC. Send between 0.1 and 5 BTC to the address below and receive double back in 30 minutes. Verified by Kraken Security: [wallet address].' The post has thousands of likes and hundreds of comments claiming success — all from bot accounts operated by the same criminal group.
Some campaigns escalate to a second tier of fraud: after a victim sends and receives nothing, a fake 'Kraken Help' account DMs them offering to investigate the failed transaction — for an upfront 'gas fee' or 'verification deposit' that is itself stolen.
Common red flags
- A Kraken-branded social account announces a cryptocurrency giveaway requiring an upfront deposit
- The account is not the verified @krakenfx Twitter account or the official Kraken Telegram
- Comments and likes appear artificially high, with many accounts using generic profile pictures
- The giveaway claims are corroborated only by other social-media comments, not by kraken.com/news
- A 'support' account DMs you after a failed giveaway attempt, offering to recover your funds for a fee
- The wallet address provided has no Kraken affiliation and receives funds from many different users
How to protect yourself
- Dismiss all 'send to receive more' cryptocurrency promotions as scams — no legitimate exchange operates this way
- Verify any Kraken promotion at kraken.com/learn or the verified @krakenfx account before acting
- Never interact with giveaway posts or send funds to addresses promoted in social-media comments
- Report fake Kraken accounts to the social-media platform using the official report feature
- If you are a member of Kraken-related Telegram groups, verify they are listed on kraken.com's official community page
- Enable two-factor authentication on your Kraken account to prevent compromise if your credentials are phished via a giveaway site
How to report it
- Report the fake account to the social-media platform using its report function
- Report to Kraken's security team at support.kraken.com
- File a report with the FTC at reportfraud.ftc.gov
- Report to IC3.gov (US) or Action Fraud 0300 123 2040 (UK)
- If funds were sent, file a police report and report the wallet address on chain-abuse tracking tools
Frequently asked questions
Does Kraken run any promotions that reward users with cryptocurrency?
Kraken runs trading competitions, referral bonuses, and staking rewards — all clearly described at kraken.com. None involve sending your own cryptocurrency to an address first. Verify at kraken.com/learn, not on social media.
Why do fake giveaway posts have so many positive comments?
The comments are made by bot accounts controlled by the same criminal group running the scam. They are created specifically to manufacture social proof. The high comment count and positive testimonials are part of the fraud, not genuine evidence.
I sent money and a 'support' account offered to investigate. Is that legitimate?
No. Follow-up offers to recover funds from a failed giveaway are a second layer of the same scam, commonly called a 'recovery scam.' Do not pay any further amounts. Report both encounters to Kraken's support and to your national fraud body.