News - FBI searches home of Kraken founder

By Ted Maas

FBI searches home of Kraken founder

Laws and regulations
Kraken FBI Jesse Powell

Jesse Powell allegedly hacked a group of artists. The FBI seized electronic devices. Charges are pending.

The FBI raid was on Jesse Powell as early as March 2023 this year. The founder and ex-CEO of Kraken, the world's fourth-largest crypto exchange. This was reported by the New York Times. He allegedly hacked and digitally stalked an artistic group, according to the allegations. Powell allegedly tampered with computers and blocked access to emails and other services. His motives for these actions are not yet known.

Agents searched Powell's home in Brentwood, Los Angeles, seizing several electronic devices. Meanwhile, prosecutors have not yet charged him with a crime. Jesse Powell founded Kraken in 2011 and stepped down as chief executive last year in 2022. The New York Times wrote at the time that the exit was due to political disputes over corporate culture. However, he remains on the board of directors.

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