Kraken Freezes Accounts Owned By FTX And Alameda

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Jesse Powell; Photo Source: Protocol

Crypto exchange Kraken has frozen FTX and Alameda Research’s accounts due to the recent events surrounding FTX to protect users’ funds.

It is worth noting that earlier, Kraken’s tweet alleged that these accounts were associated with “fraud, negligence and misconduct.” It added,

“We will resolve each account on a case-by-case basis and may seek guidance from the Bankruptcy Court or trustee as appropriate.”

However, Kraken has now deleted this tweet. In its stead, Kraken tweeted that besides the accounts associated with FTX and Alameda Research, none of the exchange's other clients were affected.

Furthermore, Kraken claimed that it maintains full reserves.

The announcement came shortly after FTX was ‘mysteriously’ hacked when over $600M worth of assets were siphoned from its wallets. 



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Kraken’s CSO Nick Percoco revealed that their team has discovered the identity of the hacker. The perpetrator had used Kraken’s exchange to fund their TRX wallet, which the Kraken team was able to detect thanks to the exchange’s KYC policies.

Dyma Budorin, the Co-Founder and CEO of Hacken.io, suspected the hacker to be an inexperienced insider from FTX.

Written by
Ayush Pande

Crypto exchange Kraken has frozen FTX and Alameda Research’s accounts due to the recent events surrounding FTX to protect users’ funds.

It is worth noting that earlier, Kraken’s tweet alleged that these accounts were associated with “fraud, negligence and misconduct.” It added,

“We will resolve each account on a case-by-case basis and may seek guidance from the Bankruptcy Court or trustee as appropriate.”

However, Kraken has now deleted this tweet. In its stead, Kraken tweeted that besides the accounts associated with FTX and Alameda Research, none of the exchange's other clients were affected.

Furthermore, Kraken claimed that it maintains full reserves.

The announcement came shortly after FTX was ‘mysteriously’ hacked when over $600M worth of assets were siphoned from its wallets. 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Kraken’s CSO Nick Percoco revealed that their team has discovered the identity of the hacker. The perpetrator had used Kraken’s exchange to fund their TRX wallet, which the Kraken team was able to detect thanks to the exchange’s KYC policies.

Dyma Budorin, the Co-Founder and CEO of Hacken.io, suspected the hacker to be an inexperienced insider from FTX.

Written by
Ayush Pande