Kraken Sees 29% Trading Volume Surge Amid Bull Market Momentum

Kraken, a leading cryptocurrency exchange, reported strong financial performance in Q1 2025, with a 19% year-over-year revenue increase to $472 million. Despite early-quarter Bitcoin volatility, trading volume surged 29%, and funded accounts grew by 26%, signaling renewed interest from both retail and institutional investors. However, assets under custody saw a slight 2% dip to $34.9 billion, reflecting broader market corrections.

Kraken Reports 29% Surge in Trading Volume Amid Bull Market Signals

Kraken, one of the leading cryptocurrency exchanges, posted $472 million in revenue for Q1 2025, marking a 19% year-over-year increase despite Bitcoin’s volatility early in the quarter. Trading volume on the platform jumped 29%, while funded accounts grew by 26%—a strong indicator of renewed retail and institutional interest.

Assets under custody dipped 2% to $34.9 billion, a reflection of the broader market correction that erased 70% or more from some altcoins. The exchange’s resilience suggests institutional players are positioning for the next leg of the bull cycle, with Bitcoin briefly testing sub-$65,000 levels before recovering.

North Korean Operative Attempts Social Engineering Attack on Kraken Crypto Exchange

Kraken, a prominent cryptocurrency exchange, thwarted a social engineering attempt by a North Korean operative posing as a job applicant. The incident unfolded during a routine recruitment process when the interviewee provided a name inconsistent with their resume. Kraken’s security team, leveraging open-source intelligence tools, identified links to malicious activity.

The exchange deliberately prolonged the interview to gather intelligence on potential security threats. The applicant exhibited signs of external coaching during the conversation, revealing telltale inconsistencies in their presentation. This incident highlights the sophisticated threats facing cryptocurrency platforms as they become increasingly attractive targets for state-sponsored actors.