This Monday, Kraken went public with an extortion attempt it recently fell victim to. The exchange reported that a criminal group threatened to leak customer data. In this regard, the firm’s Chief Security Officer (CSO), Nick Percoco, confirmed that the attackers possess videos of their internal systems obtained through the recruitment of their own personnel. Despite threats to disseminate the material on social media and news outlets, the company asserted that it will not negotiate or pay ransoms to malicious actors.
Initial investigations indicate that the incident affected at least 2,000 accounts—equivalent to 0.02% of its user base—and originated from two cases of unauthorized access by support employees in February 2025 and recent dates. Percoco emphasized that customer funds are safe and that the core infrastructure was not compromised, as access was limited to technical support tools. This event highlights a growing trend of “wrench attacks” and internal recruitment within the industry, which has led Kraken to collaborate with federal agencies to capture those responsible.
Kraken has already contacted all potentially affected users and reinforced its internal security controls. With solid evidence in hand, the company is working with authorities to bring the attackers to justice, while the market observes how these internal risks might impact its future plans for going public.
Source:https://x.com/c7five/status/2043720915330969743
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