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#1 Posted : Monday, May 29, 2023 9:42:24 PM(UTC)

Joined: 4/30/2010(UTC)
Posts: 294
I was one of the customers of Voyager Digital, a crypto lending platform that went bankrupt last year after losing a lot of money to a hedge fund and failing to find a buyer. I had deposited some of my hard-earned crypto assets on Voyager, hoping to earn some interest and enjoy the benefits of their VGX token. But then everything went downhill and I was left wondering if I would ever see my money again.
Well, today I got some good news and some bad news. The good news is that a US judge approved Voyager’s liquidation plan, which means they will return some of their crypto assets to customers like me. The bad news is that they will only return about 35% of what I had deposited, which is still a huge loss for me. The exact amount depends on the outcome of a lawsuit with FTX, another crypto platform that tried to buy Voyager but then collapsed itself.
Voyager said they will repay customers with the same type of cryptocurrency that they had in their accounts, except for unsupported coins and their own VGX token, which they will replace with USDC, a stablecoin pegged to the US dollar. I’m not sure how long it will take for them to process the payments, but they said they will provide more information soon.
I’m glad that this saga is finally coming to an end, but I’m also very disappointed and angry with Voyager and the whole crypto industry. I feel like I was cheated and betrayed by a company that promised to be transparent and trustworthy. I also feel like the regulators and the courts did not do enough to protect us, the customers, from these shady and risky businesses. I learned a hard lesson from this experience: never trust anyone with your crypto assets and always do your own research before investing in anything.

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