#lawsuit - the daily grind

BREAKING

May 4The Ethereum L2 That Processed a Billion Transactions Just Turned Off Forever — $34M Is Still Inside●May 4Kraken's Banker Was Allegedly Running a Ponzi Scheme With Client Funds — And Covered It Up for a Year●May 3276 People Just Got Arrested Running the Same Crypto Scam Type That Ensnared Trump's Own Venture●May 3Coinbase Just Agreed to Kill Passive Stablecoin Yield — And They're Calling It a Win●May 2Gemini Just Beat Every Crypto Exchange in the World — It Now Controls Its Entire Derivatives Pipeline, Legally●May 2500 Ethereum Wallets That Hadn't Moved in 8 Years Were Just Drained — And Nobody Knows How●May 1Visa Just Settled $7 Billion in Stablecoins — and Quietly Doubled Its Blockchain Network●May 1Is North Korea Running an AI That Automatically Hacks DeFi? April's $625M Record Says the Theory Isn't Crazy●Apr 30Vitalik's $470M Ethereum L2 Launched Its Token Today — Hit ATH and Dumped 20% in the Same Hour●Apr 30South Korea's Biggest Credit Card Company Just Chose Solana to Power Payments for 28 Million Users●May 4The Ethereum L2 That Processed a Billion Transactions Just Turned Off Forever — $34M Is Still Inside●May 4Kraken's Banker Was Allegedly Running a Ponzi Scheme With Client Funds — And Covered It Up for a Year●May 3276 People Just Got Arrested Running the Same Crypto Scam Type That Ensnared Trump's Own Venture●May 3Coinbase Just Agreed to Kill Passive Stablecoin Yield — And They're Calling It a Win●May 2Gemini Just Beat Every Crypto Exchange in the World — It Now Controls Its Entire Derivatives Pipeline, Legally●May 2500 Ethereum Wallets That Hadn't Moved in 8 Years Were Just Drained — And Nobody Knows How●May 1Visa Just Settled $7 Billion in Stablecoins — and Quietly Doubled Its Blockchain Network●May 1Is North Korea Running an AI That Automatically Hacks DeFi? April's $625M Record Says the Theory Isn't Crazy●Apr 30Vitalik's $470M Ethereum L2 Launched Its Token Today — Hit ATH and Dumped 20% in the Same Hour●Apr 30South Korea's Biggest Credit Card Company Just Chose Solana to Power Payments for 28 Million Users●

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#lawsuit

1 post

Kraken's Banker Was Allegedly Running a Ponzi Scheme With Client Funds — And Covered It Up for a Year

May 4, 2026 · 4 min read

Kraken's parent Payward just sued its former custodian Etana for misappropriating $25 million in client funds in what it calls a 'Ponzi-like' scheme. Etana allegedly stalled withdrawals with fake reconciliation issues while plugging holes with new deposits.