Kraken Wins $22M Arbitration Against Former Auditor Mazars

Kraken’s parent company says it has won a $22 million arbitration award against its former auditor, Mazars, after a dispute tied to the firm’s withdrawal from a 2022 audit. According to the company, Mazars’ exit from the engagement caused millions of dollars in damages.

The development matters because audits and auditor relationships are central to how crypto companies present reliability to customers, partners and regulators. For exchanges, a disrupted audit process can create business consequences beyond accounting, especially in a sector where transparency and institutional trust remain closely watched.

Kraken’s parent company also connected the dispute to Operation Chokepoint 2.0, a term used in the crypto industry to describe alleged pressure on financial and professional services providers working with digital asset firms. The source material does not establish the broader facts of that claim, but it shows Kraken framing the Mazars dispute within that wider industry narrative.

Mazars had been engaged for Kraken’s 2022 audit before withdrawing, according to the company’s account. Kraken says that withdrawal led to the damages covered by the arbitration award.

The arbitration outcome gives Kraken a legal victory in a dispute with a former auditor, while also highlighting a recurring issue for crypto businesses: access to mainstream professional services can become a material operational risk when relationships break down.