The US Securities and Exchange Commission (SEC) has filed a lawsuit against cryptocurrency exchange Kraken, accusing it of conducting unregistered operations. The SEC alleges that Kraken operated as an unregistered broker, clearing agency, and dealer, trading tokens deemed securities without complying with federal securities laws. The lawsuit specifically mentions tokens such as Algorand, Polygon, and NEAR Protocol. Additionally, the SEC highlights that Kraken commingled customer cryptocurrency and cash with its own corporate assets, posing a significant risk. In response, Kraken has advocated for regulatory clarity and criticized the SEC’s approach to regulation. This development comes as Kraken, Coinbase, and Binance face increased scrutiny from the SEC. In a separate incident, decentralized exchange protocol KyberSwap experienced a $47 million hack. In an attempt to recover the funds, KyberSwap has offered a 10% bounty to the hacker. The attack targeted KyberSwap’s Elastic pools and exploited a vulnerability related to tick interval boundaries. The situation remains unresolved as the hacker has not responded to the bounty proposal.

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Information	Details
Geography	Global
Countries	🇺🇸
Sentiment	negative
Relevance Score	1
People	Victor Tran
Companies	KyberSwap, Ethereum, Base, Optimism, Binance, NEAR Protocol, SEC, Beosin, Algorand, Kraken, Coinbase, Polygon
Currencies	Algorand, NEAR Protocol, Polygon, Ethereum
Securities	None