Kraken sues PowerTrade over $6 million in missing crypto derivatives funds
By
Ian Allison
Summary
Kraken is suing crypto derivatives firm PowerTrade, alleging that PowerTrade refused to return Kraken's funds after Kraken became concerned about PowerTrade's liquidity during a market downturn in October 2025. The lawsuit claims PowerTrade conducted unauthorized transactions that changed Kraken's positive balance of over $6 million into a $2 million deficit through improper "corrections" related to expired or settled trades.
Source
bskyKraken sues PowerTrade over $6 million in missing crypto derivatives fundscoindesk.comKey quotes
· 3 pulledKraken said it became concerned about PowerTrade's liquidity and creditworthiness and tried to withdraw its funds, but was unable to
PowerTrade carried out a series of unauthorized transactions that moved Kraken's account
PowerTrade changed Kraken's positive balance of over $6 million to a $2 million deficit via a series of unauthorized 'corrections' related to trades that had expired or settled months earlier
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