Crypto Giant Files Lawsuit Over $25 Million in Alleged Misappropriation, Raising Custody Security Concerns

Payward Inc., the parent company of a major crypto exchange, has sued its former custody partner Etana Custody in Colorado court. The lawsuit alleges misappropriation of over $25 million in client funds through a Ponzi-like scheme, mixing assets for operations and risky investments. Payward faced delays when attempting withdrawals. The case seeks significant damages and legal remedies.

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