Kraken crypto exchange freezes accounts owned by FTX Group, Alameda Research and their executives

Kraken crypto exchange has frozen accounts owned by FTX Group, Alameda Research and their executives following their filing for Chapter 11 bankruptcy protection.

Kraken exchange tweeted on November 13, saying,

“Kraken has spoken with law enforcement regarding a handful of accounts owned by the bankrupt FTX Group, Alameda Research and their executives. Those accounts have been frozen to protect their creditors.”

In addition, the company adds that other Kraken clients are not affected. Kraken maintains full reserves.

Kraken added that its other clients’ funds are not affected and that it “maintains full reserves.”

After FTX and businesses connected to Alameda filed for Chapter 11 bankruptcy protection on Friday, Kraken provided an update.

The possibility of a rescue agreement was previously discussed by FTX with Kraken, who claimed to have no exposure to Alameda Research but possessed nearly 9,000 FTT tokens.