FBI Searched the Home of Kraken Founder Amid Hacking, Cyber-Stalking Allegations

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Sources say the FBI searched the home of cryptocurrency executive Jesse Powell, who founded the embattled cryptocurrency exchange Kraken, in March as part of a criminal investigation into claims that he hacked and cyber-stalked a nonprofit, Verge Center for the Arts, that he founded.

The nonprofit alleged that Powell interfered with its computer accounts, blocking access to emails and other messages. Agents searched Mr. Powell’s home in the Brentwood neighborhood of Los Angeles and seized electronic devices.

Brandon Fox, a lawyer for Mr. Powell, confirmed that he was under investigation by federal prosecutors in Northern California. Fox said the investigation was focused on the allegations by the arts group and “in no way related to Mr. Powell’s employment or his conduct in the cryptocurrency arena.” He also said Mr. Powell “did nothing wrong.”

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