Megathread: Voyager suspends trading, deposits, withdrawals and loyalty rewards

Voyager has announced their decision to temporarily suspend trading, deposits, withdrawals, and loyalty rewards, effective at 2:00 PM EDT July 1. This follows Voyager’s previous announcement that its subsidiary, Voyager Digital LLC, issued a notice of default to Three Arrows Capital for failure to make the required payments on its previously disclosed loan of 15,250 BTC and $350 million USDC.

Please use this thread for all discussions on this topic as any further posts will be removed and directed here.

Notice from Voyager: https://www.investvoyager.com/blog/voyager-update-july-1-2022/

Twitter: https://twitter.com/investvoyager/status/1542947505662484481?s=21&t=h4seXeYg6veln4OihWchMw

Thread from CEO of Voyager: https://twitter.com/ehrls15/status/1542943887899123718?s=21&t=ZuQeKL76i7HjhpJ-3AjVfA

Article from CNBC: https://www.cnbc.com/2022/07/01/voyager-digital-suspends-all-trading-deposits-and-withdrawals-.html

Voyager secured loans from Alameda research to safeguard assets approximately two weeks ago: https://www.coindesk.com/business/2022/06/17/voyager-digital-secures-loans-from-alameda-to-safeguard-its-assets/

Three Arrows Capital files for bankruptcy: https://www.bloomberg.com/news/articles/2022-07-01/crypto-hedge-fund-three-arrows-files-for-chapter-15-bankruptcy

Megathread: Voyager suspends trading, deposits, withdrawals and loyalty rewards

42 thoughts on “Megathread: Voyager suspends trading, deposits, withdrawals and loyalty rewards”

  1. Please be kind I’m asking in all seriousness, do you think we will be able to withdrawal or is that money gone? I know the statement said the app is frozen temporarily but how long does that mean? Or do they not even know themselves. I’m very worried

  2. I have been warning for weeks that you need to take your money out of exchanges more and more will collapse. Take it offline and into coldstorage. There are more coming down the pipe.

  3. So basically having your money in any crypto exchange means you will lose your money if they go bust which could happen any time?

    Decentralized money on centralized and corrupt exhanges, how will crypto investors ever feel safe

  4. TIL it isn’t common knowledge on this sub that Voyager is a publicly traded company

  5. All these “waiting on the rewards” comments are heartbreaking, honestly. That’s how they get you. Double if there’s any lockup period.

  6. Excellent. We need all this centralized crap to die a quick death. Why people trust this shit? What happened to “don’t trust, verify”…

  7. Lmao at YouTube stock gurus like this guy who pumped the stock @ 20$.

    https://youtu.be/0ga3juduhMs

  8. Well I got out of voyager (mostly) 2 months ago. I undid my USDC stake and took the USD back to my bank. I had to leave my DOT as it wasn’t able to withdraw. I was very worried about voyager tanking hard but didn’t want to sell my dot off at such a low price. I should have done it and just sucked up the loss.

  9. i guess the bright side of this is i learned the valuable lesson of having a cold wallet lol

  10. I was reading reviews for their iOS app and someone on Monday warned about this issue before the email hit today.

  11. Not your keys not your Bitcoin now maybe makes sense to you guys who just come here after Mtgox

  12. It was nasty, i lucked out and im thankful. Had they closed their doors yesterday i would have a zero balance and done with. Now they paid me a final 87 usdc interest and it is stuck indefinitely! I cant have myself unregister and uninstall just yet. Thank god and thank everyone on reddit providing news and warnings about luna usdt, 3ac, Celsius, and cryptos in general so i survived in whole thru this fucking insane period. I dont hold any crypto anymore but good luck to every one of you, and maybe ill buy some once the bulls are running again…

  13. Exchanges/brokers with bad management are the first ones in die in a crypto winter. I hope you are safe people. Remember to move your funds out of exchanges. During a bull run it can be pretty safe but during a bear market it is better to protect yourself. That APY does not worth the risk.

  14. How did anyone ever find Voyager worth using in the first place? I can’t recall specifics at this moment, but when I tried it out last, I couldn’t withdraw most currencies, and their fees were higher than any other exchange. Seemed like such a scammy place.

  15. Only use solid exchanges like Kraken. Sure they don’t give you % but they are reliable even through bear markets.

  16. Not your keys not your crypto. The entire point of crypto is the fact that you can have SELF CUSTODY of your assets!

  17. And if you haven’t ventured over to r/invest_voyager, it’s quite the spectacle

  18. The contagion continues. The covid virus started this bull run and the Luna virus killed crypto, at least for a few years.

  19. Theres some comment or post going around on voyager forums or sub that if you have funds in voyager or celsius and you had sent it via ACH, you can raise a reg-e dispute and chargeback from your bank..

    This is not how it works.

    You cant claim REG-E dispute and chargeback after wilfully sending money somewhere. This protection comes in handy when you see a billing on your account that you didnt actually do yourself (like a fraud transaction / unauthorised charge), then you can claim a chargeback after filing dispute.

    Willingly sending money to voyager or celsius, who clearly mention they will invest on your behalf to generate yield.. and then claiming disputed txn and chargeback ? Nah.. thats not how it works

    Apparently the guy who posted in voyager said he got refunded in 2 hours. Lol..even if you file a chargeback it takes several days for the bank to investigate the claims and settle it.

    No, you cannot wilfully send money to someone who clearly promises to invest on your behalf, and then later claim chargeback from your bank after your investment blows up.

    https://www.nacha.org/news/which-60-days-it-understanding-different-periods-regulation-e-and-nacha-rules

  20. It is really shocking to me how ill prepared these companies were for a bear market. From Do Kwon to Mashinsky, not Voyager. Is it willful ignorance? Is it malfeasance? Are they just stupid? I am by no means an expert and it was clear a bear market was coming. After the 50% drawdown from November these companies still had months to shore up their assets and even a rebound up to almost 50k to help. Really incredible.

  21. Can someone ELI5 what exposure exchanges have to a bear market? Are they actively speculating with their customers’ deposits (and not just collecting fees on transactions)?

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