Accounts With FTX and Alameda Are Frozen by Kraken

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Last Updated on November 14, 2022 by Bitfinsider

After FTX Group, Alameda Research, and their management filed for Chapter 11 bankruptcy protection, Kraken stopped their accounts.

“Kraken has communicated with law enforcement about a handful of accounts belonging to the bankrupt FTX Group, Alameda Research, and their executives,” the U.S. cryptocurrency exchange tweeted today, adding, “These accounts have been blocked to protect their creditors.”

Kraken noted that the funds of its other clients are unaffected and that the company “maintains full reserves.”

Friday, FTX and Alameda-related entities filed for Chapter 11 bankruptcy protection, prompting Kraken’s announcement. FTX has contacted Kraken, which claimed to have no exposure to Alameda Research but possessed nearly 9,000 FTT tokens, regarding a potential rescue arrangement.

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