Bankrupt cryptocurrency platform accused of fraud

A YouTuber investigating online fraud has accused the bankrupt cryptocurrency platform Voyager Digital of fraud.

According to Coffeezilla blogger Steven Findeisen, Voyager representatives «lied to their clients» from the very beginning, promising up to 10% return on their investments. In addition, Voyager guaranteed its customers insurance of their funds by cooperating with Metropolitan Commercial Bank, but no one specified that «the insurance protects users' assets only in case of bankruptcy of the bank, not the crypto platform.»

According to Stephen Findeisen, Voyager Digital «had no right to declare bankruptcy» because according to the documents, the platform is neither a stock exchange, nor a brokerage, nor a banking institution. Accordingly, the only thing that the company’s representatives can do in the event of a collapse is to completely liquidate Voyager. In this case, investors' funds would be protected and returned to their owners.

It is not yet known whether law enforcement agencies will take Coffeezilla’s investigation into account, nor is it clear what the «fate» of investors' funds will be. It seems that at a time when the value of digital assets is falling, many crypto platforms, apparently built according to the Ponzi scheme, are unable to «keep afloat» their business. Thus, the Celsius crypto exchange has declared bankruptcy, and the founders of the Three Arrows Capital platform have been hiding from law enforcement for some time.