During a month-long period, scammers targeted customers of Voyager Digital, a bankrupt crypto brokerage, managing to extract funds from the platform, according to the company's attorney, Darren Azman. Approximately $490 million was withdrawn by Voyager customers between June 23 and July 22 , which constitutes nearly 80% of the available funds. Azman revealed this information during a telephone hearing in the Bankruptcy Court for the Southern District of New York, stating that law enforcement has been alerted about the situation.
Scammers employed various tactics to exploit Voyager's customers. One common method involved luring users to fake websites promising higher returns. These sites would then connect with customers' wallets and drain their funds. The California Department of Financial Protection and Innovation (DFPI) had issued a warning in July, cautioning customers about receiving fraudulent communications impersonating Voyager CEO Stephen Ehrlich. These communications provided accurate consumer information, including the initial return amounts expected from the Voyager bankruptcy.
The attempts by scammers did not result in significant success, as very few customers fell for the fraudulent schemes. Voyager Digital, once housing 3.5 million customers and $6 billion in crypto assets, filed for bankruptcy in July 2022 after the collapsing se of Three Arrows Capital. Despite these challenges, the company made history as the first failed cryptocurrency firm to reimburse funds to its customers. While FTX US aimed to acquire Voyager's assets, complications surrounding the FTX situation prevented the deal's completion. Binance.US had initially planned to purchase $1 billion worth of Voyager assets, but withdrawn from the deal at the last moment. A bankruptcy plan was approved in May, involving approximately 36 cents returned to customers for every dollar claimed.
