Kraken Co-founder's Home Under FBI Investigation

According to The New York Times, agents from the Federal Bureau of Investigation (FBI) of the United States conducted a search of the residence of Jesse Powell, one of the co-founders of Kraken, in the month of March as part of an investigation into allegations that he hacked and cyberstalked a nonprofit arts organization. Kraken is one of biggest cryptocurrency exchange located in the United States.

The New York Times cited three persons with information of the topic as sources, it is said that Powell tampered with computer accounts by barring access to emails and other communications from donors of the Verge Center for the Arts, the nonprofit organization Powell created.

The three individuals disclosed to The New York Times that the Federal Bureau of Investigation and the United States Attorney's Office for the Northern District of California had been conducting an investigation against Powell since "at least" September 2022.During the course of the search, allegedly many electronic devices were taken from Powell's residence in Brentwood, which is located in the city of Los Angeles. Powell established the arts organization in Sacramento in the year 2007.

Brandon Fox, an attorney for Powell, said that the inquiry focused only on claims that were made by the charity organization and had nothing to do with Powell's engagement in the "cryptocurrency arena".

However, the prosecutors have not charged Powell with committing any crimes.