Kraken Restricts Accounts Amid Suspected $133M EU Crypto Theft
Crypto.com and Kraken have taken steps to block funds tied to a suspected crypto theft of over $133 million from an unidentified European Union entity. While Kraken's systems and customer accounts were not compromised, they are investigating reports that some assets were moved through their platform.
Update (Nov. 3, 2026, 11:51 am UTC): This article has been updated with revised headlines and responses from Kraken, OKX, and Crypto.com.
Kraken has restricted accounts linked to the theft and is collaborating with law enforcement to facilitate recovery. They stated, “This incident did not originate on the Kraken platform, and we’re actively investigating reports that some of the assets were moved through our platform.”
This follows a disclosure by blockchain investigator ZachXBT, who identified additional withdrawals from centralized exchanges, raising the suspected losses to over $139 million. He noted that some withdrawals occurred after his initial report.
Bitquery reported that the stolen funds were withdrawn from accounts on Kraken, Crypto.com, and OKX, and that $62.98 million in stablecoins was converted into 27,553 Ether (ETH) within four hours.
Kraken assured customers that their security systems had not been compromised and there was no ongoing risk. Crypto.com confirmed that they had taken measures to prevent funds associated with the incident from moving through their platform, emphasizing that their platform remains operational and user funds are secure.
OKX acknowledged the request for comment and is investigating the matter.
As of Monday, approximately $78.3 million remained in wallets linked to the suspected attacker, while $30.5 million had been moved out of tracked addresses, according to Bitquery. Only $3.74 million in USDC from Circle and $1.1 million in USDT from Tether were potentially frozen.
Identity of the Victim Unverified
ZachXBT speculated that a large financial institution in Western Europe was exploited and that an attempted cover-up is underway. He claimed that over $30 million was laundered before proper incident disclosure, potentially preventing EU law enforcement from freezing the funds. However, the victim's identity and allegations of a cover-up remain unverified.
ZachXBT also noted that the laundering patterns did not match those typically associated with North Korea's Lazarus Group.