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Former customers of Voyager Digital, the bankrupt crypto lender that went bust in 2022, may have had their personal data compromised.
According to a post by Tree News, customer details have leaked during the company’s protracted bankruptcy proceedings. Voyager was one of the high-profile victims of the terraUSD (UST) crash—the first big domino to fall during crypto’s nightmare year. Its worries began in June 2022, when it announced Three Arrows Capital (3AC) had failed to repay $666 million in loans.
Voyager Filed for Bankruptcy in July 2022
Before its own collapse, 3AC managed roughly $10 billion in assets. 3AC’s business strategy included borrowing funds from the industry and using them to invest in various crypto projects. However, its plans failed spectacularly when terraUSD went under.
Following 3AC’s failure to repay the loans, on July 1, Voyager suspended “trading, deposits, withdrawals, and loyalty rewards.” Only four days later, the company filed for Chapter 11 bankruptcy protection.
At its peak, Voyager Digital had 3.5 million users and $5.9 billion in assets. Virtually all its users were retail investors with less than $10,000 USD on the platform.
One former customer added credence to the hacking claims after sharing a story of receiving a phishing letter in the mail that included “basically all the information Voyager had of mine.”
“Even the (nearly) exact amount I had in voyager at the time of the bankruptcy and the claim amount. Don’t know how a phisher would have that info without a hack,” the source said on X.
On February 28, Voyager announced that its customers had approved the crypto lender’s Chapter 11 bankruptcy plan. “97% of customers representing 98% of the total claims, voted in favor,” the company said.
Voyager Digital is due to return 35% of customers’ cryptocurrency deposits after a failed buyout attempt by Binance.US. FTX had also attempted to buy the crypto lender, but itself collapsed in November 2022.
This is a developing story.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
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