Despite scammer attempts, Voyager customers withdrew 80% of all available funds.
Scammers have targeted customers of Voyager Digital, the bankrupt crypto brokerage, during a 30-day withdrawal window.
According to the Bloomberg August 1st report, between June 23rd and July 22nd, Voyager Digital allowed its customers to withdraw some of their funds, during which scammers attempted to lure customers into fraudulent schemes.
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During a hearing held with the Southern District of New York Bankruptcy Court, Voyager Digital lawyer Darren Azman revealed that customers withdrew nearly 80% of the available amount, totaling $490 million.
The scammers used various tactics to deceive investors, including creating fake websites that promised higher returns.
It is worth noting that on July 19th, the California Department of Financial Protection and Innovation (DFPI) also issued a warning regarding the matter. The institution informed that Voyager customers received deceptive letters, calls, and emails using the Voyager CEO's name to offer higher returns on a fake website. In its warning, DFPI stated:
The communications may include consumer information that is correct, including the total initial return amount customers were expecting to receive in the Voyager bankruptcy.
Once a major player in the crypto ecosystem with 3.5 million customers and $6 billion worth of crypto assets, Voyager filed for bankruptcy on July 5th, 2022, following the Three Arrows Capital collapse.
Along the way, Voyager attempted to sell its assets but faced challenges, with FTX US and Binance.US backing out of their deals.
The scam attempts on Voyager Digital customers underscore the ongoing risks and challenges within the cryptocurrency space. Although few customers fell for the scams, the incident raises further concerns about security and trust in the industry.
