Voyager Digital Threatened User Who Stopped Account 'Freeze'

Bankrupt crypto exchange Voyager Digital threatened to “investigate” a user for “fraud” after he narrowly prevented the company from confiscating his cash, the user said in a Monday Reddit post.

“I deposited $1,000 … in Voyager two days before we were unable to [make withdrawals],” the user wrote in a since-deleted post, a copy of which was obtained by GoblinCrypto. “Once this was frozen, I called my bank to see if I [could] put a stop or reversal on this charge, since I [was] unable to access that $1,000. The money went back to my checking account a couple of days later. Here we are a few weeks later, and I just got an email from Voyager saying that all chargebacks are being investigated and that false claims are illegal and considered wire fraud.

“Should I be worried about this?” he asked fellow users of Reddit’s “Cryptocurrency” forum. “I never claimed that I didn’t make the deposit or that I did not authorize the deposit, I just told my bank I didn’t have access to those funds that were deposited.”

Other users reacted with scorn for the company. “How are they even going to investigate?” one asked. “You need money for that and they don’t have any lol.”

“You need to give us the money you were going to use on our service, so we can keep it for ourselves and give you nothing — Voyager 2022,” said another poster who received 309 “up-votes.”

“Voyager should go f–k themselves,” a third person replied. “Oh wait they already did.”

The company “froze” customer accounts on July 1, four days before it filed for bankruptcy in the Southern District of New York. The company is the second biggest creditor to bankrupt investment firm Three Arrows Capital, which owes it $674 million. The Toronto-based exchange said in its bankruptcy filing that it also held $1.3 billion in assets on its platform, but said it owed money to more than 100,000 creditors, including more than $350 million to customers.

Attorneys for Voyager said in a July 14 court filing that allowing withdrawals to continue may have caused “irreparable damage” to the company, but asked a judge for permission to honor the withdrawals. A hearing on the issue is scheduled to take place Aug. 4.

Separately, officials in Texas, Alabama, and Vermont are investigating both Voyager and one of its competitors, the bankrupt Celsius Network, on charges that they misled both customers and regulators.

Voyager did not immediately respond to a request for comment from GoblinCrypto about whether it was seeking to investigate users who managed to prevent the exchange from seizing their cash.

READ: Celsius CEO Files Bankruptcy Declaration — Says Celsius Froze 58,000 Accounts Worth $180 Million