Kraken Restricts Accounts as Suspected EU Theft Exceeds $133 Million

Kraken has restricted accounts as it works with law enforcement to recover more than $133 million tied to a suspected theft from an entity in the European Union.

Kraken said the incident did not involve its platform or customer accounts. It described its response as account restrictions and cooperation with authorities on recovery.

The distinction is central to the case: the suspected loss is tied to an EU entity, while Kraken says it did not suffer a breach of its platform or customer accounts. The amount is above $133 million, and the event remains characterized as a suspected theft.

Kraken's restrictions are the exchange's direct action in the case, while its work with law enforcement is aimed at recovering funds. The company says its customers' accounts were not compromised, so the incident is not described as a breach of Kraken's customer accounts. Kraken's cooperation with law enforcement remains the stated path to recovering the funds.