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Crypto Exchange Kraken Freezes Accounts of FTX, Alameda Research, Their Executives

News Feed - 2022-11-13 11:11:30

Crypto Exchange Kraken Freezes Accounts of FTX, Alameda Research, Their Executives


Crypto exchange Kraken has frozen a handful of accounts owned by the bankrupt FTX Group, Alameda Research, and their executives. Kraken has been in contact with law enforcement after discovering that an account on its platform was used in connection with unauthorized transfers at FTX. Kraken Freezes Accounts Belonging to FTX, Alameda Research, and Executives


Cryptocurrency exchange Kraken has taken steps to freeze verified accounts on its platform belonging to FTX Group, Alameda Research, and their executives. The official Twitter account for Kraken tweeted early Sunday morning: Kraken has spoken with law enforcement regarding a handful of accounts owned by the bankrupt FTX Group, Alameda Research and their executives. Those accounts have been frozen to protect their creditors.


Kraken stressed: “Other Kraken clients are not affected. Kraken maintains full reserves.”


FTX filed for Chapter 11 bankruptcy Friday. John Ray was appointed the new chief executive of FTX Group after Sam Bankman-Fried stepped down. Alleged FTX Hacker Uses Kraken


Following FTX’s bankruptcy filings, Twitter users noticed that the exchange’s wallets were being drained. Ray, FTX’s new CEO and chief restructuring officer, subsequently confirmed the unauthorized transfers.


Twitter users also noticed that funds were moved from Kraken to a wallet used to hold some of the stolen tokens. A few hours later, Nick Percoco, Kraken’s chief security officer, tweeted: “We know the identity of this account.” However, he noted that he could not reveal the user’s identity publicly on social media.



FTX general counsel Ryne Miller explained Saturday: “Following the Chapter 11 bankruptcy filings — FTX US and FTX.com initiated precautionary steps to move all digital assets to cold storage. [The] process was expedited this evening — to mitigate damage upon observing unauthorized transactions.”


Miller then quoted the new FTX CEO as saying: As widely reported, unauthorized access to certain assets has occurred … We have been in contact with, and are coordinating with law enforcement and relevant regulators. Tags in this story Kraken, Kraken cryptocurrency exchange, Kraken freezes Alameda Research, Kraken freezes FTX, Kraken FTX, Kraken FTX executives, Sam Bankman-Fried


What do you think about Kraken freezing the accounts of FTX, Alameda Research, and their executives? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. From Mercedes F1 to Miami Heat, Sports Teams Suspend FTX Sponsorships EXCHANGES | 14 hours ago Proof-of-Reserves Concept Gains Traction as Major Crypto Exchanges Provide Wallet Lists and Promise Full Audits EXCHANGES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleThe Mysterious FTX Debacle, Tim Draper’s BTC Price Prediction, More Support for Ripple in SEC Lawsuit — Week in Review Next articleFTX Contract Deployer Unlocks 192 Million FTT, Exchange Token’s Questionable Tokenomics Highlights Red Flags Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItNFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales


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