Kraken froze accounts related to $133 million suspected stolen funds involving a certain European institution and is cooperating with law enforcement agencies in the investigation

According to Cointelegraph, Kraken has restricted accounts related to a suspected theft of over $133 million in cryptocurrency assets involving an unnamed institution in Europe, and is cooperating with law enforcement to recover the funds. Kraken stated that this incident did not originate from its platform, its security systems were not breached, and customer accounts were not compromised.

Previously, on-chain investigator ZachXBT discovered that the suspected stolen amount increased by an additional $27 million from the previously disclosed $106 million. Bitquery data shows that approximately $62.98 million in stablecoins was exchanged for 27,553 ETH within about 4 hours. Kraken, Crypto.com, and OKX have all been reported to be involved in the related fund flows, with Crypto.com taking measures to prevent the related funds from being transferred through its platform, while OKX stated that it is investigating.

As of the reporting time, approximately $78.3 million remains in wallets associated with the attackers, while about $30.5 million has been transferred out. The identity of the victims and ZachXBT's speculation about a large financial institution in Western Europe being attacked and attempting to cover up the incident have not been confirmed.