Arjun Sethi: Asking Monero buyers about their intended use of the currency is a mistake.

Kraken co-CEO Arjun Sethi stated that Kraken's inquiry to Monero buyers regarding the intended use of their XMR holdings was a mistake and has been retracted; XMR continues to trade on Kraken. Kraken does not accept XMR deposits, and users in the European Economic Area, the UK, Canada, and Australia are restricted. XMR was trading at approximately $581 on Saturday morning, down about 5% in the past 24 hours. On-chain investigator ZachXBT identified FreedomXMR as a money laundering channel, tracing approximately $20 million flowing out of a compromised wallet via privacy coins.