Crypto Exchange Kraken Reportedly Under Investigations For Sanctions Breach
Kraken is among the world’s largest cryptocurrency exchanges which is currently undergoing a federal investigation. The crypto exchange has been suspected of violating U.S sanctions by allowing users in Iran to trade cryptocurrencies. This alleged violation was discovered through five people who were associated with the company or with the knowledge of the inquiry. This […]
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More than 1,500 users with residences in Iran reportedly had accounts at Kraken as of June, while 149 users in Syria and 83 in Cuba were also able to access the crypto exchange. The United States Treasury Department’s Office of Foreign Assets Control, or OFAC, is reportedly investigating crypto exchange Kraken for allegedly allowing users based in Iran and other countries to buy and sell crypto — a potential violation of U.S. sanctions.According to a Tuesday report from the New York Times, OFAC has been looking into Kraken’s alleged sanctions violations since 2019 and may be close to....
Kraken Bitcoin Exchange. Bitcoin exchange Kraken has been selected to aid in the investigation of missing Bitcoin following the heist at the Mt Gox exchange. Kraken will also be involved in the distribution of remaining assets to the creditors. This decision was arrived at after an extensive evaluation process where multiple companies were considered and vetted. Kraken stood out for several reasons, chief among them being its proven track record in managing its exchange. The company has demonstrated stability and reliability in customer support. It also possesses sufficient expertise to....
The Kraken support team has drawn to the attention of Cointelegraph its recent blogpost in response to various claims of compromised accounts and stolen funds on the exchange. In the last month, CoinTelegraph received two separate mails from alleged Kraken users who claim their accounts were compromised after a reported security breach on the Kraken system. Kraken was not hacked. Both cases were presented to Kraken for clarification before our articles were published about them in July and August. But in a response on Monday August 15, Kraken says the claims of a breach could be as a....
Former Kraken CEO Jesse Powell previously warned crypto investors about the risks of holding crypto on a centralized exchange. Kraken is the latest cryptocurrency exchange to restrict accounts of Russian users on its platform in compliance with sanctions from the European Union.On Oct. 19, Kraken sent out email statements to its Russian clients to announce that the exchange is halting services to its Russian customers.“Due to the new European legislation, we have to take measures to restrict your Kraken account,” the company said. According to an email statement seen by Cointelegraph,....
On Tuesday, a newly published report details that the cryptocurrency exchange Kraken is under federal investigation for allegedly violating U.S. sanctions, according to five people familiar with the matter. The unknown sources explained that the inquiry into Kraken started in 2019, and it’s accused of allowing users from sanctioned countries like Iran access to the digital currency trading platform.
Treasury’s Office of Foreign Assets Control Is Allegedly Investigating Kraken
The San Francisco-based crypto exchange Kraken is allegedly under investigation by the....