Kraken sues crypto derivatives firm PowerTrade over 'misappropriated' funds claim (opens original article in a new tab)

Kraken parent company Payward sued PowerTrade, alleging the firm misappropriated $7.2 million in digital assets and unrealized gains through unauthorized transactions that created a negative balance in Payward's account.

• Kraken parent company Payward sued PowerTrade over $7.2 million misappropriated digital assets and unrealized gains
• Payward seeks court-ordered discovery from U.S. financial institutions to identify assets to freeze
• PowerTrade allegedly created a negative balance in Payward's account through unauthorized transactions