While it’s true that Krazy Glue is chemically the same as surgical cyanoacrilate, you still shouldn’t use the regular stuff to close cuts. An ABCNews article about common first-aid mistakes says the store-bought glues can contain “bacteria, splinters, and other contaminants.”
Full text of the article is here: http://abcnews.go.com/sections/living/MensHealth/menshealth.html