Crypto Exchange Kraken Denies Rumors of Security Breach

3 min read

Kraken, a popular crypto exchange, was forced to deny rumors regarding a security breach in one of its offices in Halifax, Canada which might have allegedly led to hundreds of employees losing their jobs.

A redditor with the account ‘throwaway34032324’ posted yesterday the following:

“Kraken Currency exchange in Halifax unit 102 at 60 Highfield park drive has just laid off hundreds of people In response to a security breech and theres currently a giant commotion happening up there and private security all over the place escorting people off the premises after making them sign voluntary quit forms was anyone here one of those people?”

The post was made using an anonymous and disposable Reddit account that had no past entries. Another comment made by an account called “MysteriousPlankton” seemed to back up the previous post’s rumors.

“10 AM, mandatory meeting. Security everywhere, required to hand in door fobs. Sitting in lunchroom, get told that due to volumes being down (both trading and support ticket), and in light of the opening of a new office in Asia, we need to reduce costs, and layoff of recently hired (<3 months, approx 57 people) was not enough, stated the post.

The user then stated that the company’s staff would receive a severance package of 8 weeks’ pay if they resigned by Friday at noon and that if they refused the offer their continued employment would not be guaranteed.

“Sounds an awful lot like we just got laid off, right? I can’t (read: don’t want to) talk more about it, but that’s what has been going down.”-added the user.

The ‘MysteriousPlankton’ account was created hours before he began to post, and also featured no previous history logs or activity.

Kraken Repudiates Rumors

The support team from Kraken denied the rumors presented on Reddit and tweeted in response that the exchange had no security issues and its facilities will continue to operate.

 “1) We’re 100% secure (and Kraken continues to lead in security in the exchange industry), and there’s been no security breach.

2) We’re not closing operations in any specific place.”  

“We can confirm that we are not shutting down any operations in any specific place, and there has been no security breach. Everything is fine & secure.

Thank you for your reaching out to us with your question!”

There is currently no further evidence to prove that the office is actually closing down and only time will reveal if these rumors were actually true.

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