Kraken Restricts Accounts After Suspected $133M Crypto Theft

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TL;DR Kraken restricted accounts linked to a suspected $133M crypto theft, while analysts said it had blocked associated funds from moving through its platform. The suspected theft involves an unidentified EU entity The suspected losses reportedly reached more than $106 million. Suspected $133M Crypto Theft Triggers Exchange Response A suspected cryptocurrency theft involving an unidentified European entity has grown to more than $133 million, according to blockchain investigator ZachXBT, who identified additional withdrawals from centralized exchanges. The updated estimate, published on November 3, follows an initial alert on November 2 that placed the suspected losses above $106 million. ZachXBT said another $27 million in withdrawals had been traced, with some transactions occurring after his first public disclosure. The investigator suggested that a major financial institution in Western Europe may have been compromised and questioned whether the incident was being concealed. However, neither the identity of the suspected victim nor the cover-up allegation has been independently ...