Payward Accuses Etana Custody of $25 Million Fraud Involving Kraken Customer Funds
Payward, parent company of crypto exchange Kraken, has filed a second amended complaint against Etana Custody and its CEO Dion Brandon Russell for allegedly orchestrating a Ponzi-like scheme involving over $25 million in customer funds. The firm claims that Etana misused the money by funneling it into defaulted notes and using new deposits to cover prior shortfalls.
Topics: crypto custody customer funds misappropriation Ponzi scheme