Kraken Restricts Accounts Linked to Crypto Theft Suspected to Exceed $133 Million; Crypto.com Simultaneously Freezes Related Funds

TechFlow reported on November 3 that, according to Cointelegraph, Kraken has restricted accounts linked to a suspected theft of more than $133 million in crypto assets from an EU entity and is cooperating with law enforcement on fund recovery efforts. Kraken said the incident did not originate on its platform, and that neither its platform security systems nor customer accounts were breached.

Crypto.com said it has taken measures to prevent the involved funds from being moved through its platform, emphasizing that user funds are safe and the platform is operating normally; OKX said it is investigating the matter.

Previously, on-chain detective ZachXBT found that the suspects had made additional withdrawals of more than $27 million from centralized exchanges, raising the suspected stolen amount from the previously disclosed $106 million to more than $133 million. Blockchain data analytics platform Bitquery found that the involved funds had been withdrawn from accounts related to Kraken, Crypto.com, and OKX, with approximately $62.98 million in stablecoins converted into 27,553 ETH in about 4 hours.

Source: TechFlow