CryptoBearishCoinDesk · 4h ago7/10
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Kraken's parent company Payward alleges $25 million crypto custody fraud in lawsuit against Etana and firm's CEO
Payward, Kraken's parent company, filed a lawsuit alleging $25 million in crypto custody fraud against Etana Custody and its CEO, claiming client funds were misused, commingled, and concealed through a Ponzi-like scheme that collapsed during a liquidity crisis. The case highlights persistent custody vulnerabilities in the crypto industry and raises questions about fund safeguarding practices among service providers.
