Investors apologize for potentially lost “millions” on Voyager bankruptcy

Many investors are pondering Voyager Digital’s recent bankruptcy announcement, with some claiming to have either ‘millions’ worth of cryptocurrencies or most of their life savings locked on the cryptocurrency exchange.

As previously reported, Voyager halted withdrawals earlier this month due to liquidity issues as a result of Three Arrows Capital (3AC) defaulting on a $ 650 million loan from the company. Despite Alameda providing the company with a $ 500 million loan in June, Voyager continued to file for bankruptcy on July 6.

In an article from July 9, Fortune spoke to several Voyager users who dread the recent bankruptcy filing. Some put almost all their savings on the platform, while others are said to have millions hanging in limbo.

One user, referred to as Robert for anonymity purposes, stated that he put about six numbers on the platform, which represents 70% of his life savings.

“Every day, to be honest, I cry,”[ads1]; Robert said, adding, “I do not know what to say to my wife. As partners, we decided to [invest on Voyager]but she trusted me, more than anyone else, to make the right decision. “

As a six-year investor, Robert went on to note that even though he had done a relative amount of research on Voyager before using the platform, he would never have done so if he knew the firm was going to lend client funds to a hedge fund:

“I had no idea that Voyager would lend [customers’ USDC] out to a hedge fund. Had I known that it would possibly be lent out, I would probably have just kept it in cash in my safe. “

Related: FDIC will reportedly investigate Voyager Digital marketing as complex SBF tapes come to light

Fortune also spoke with the popular crypto-influencer Scott Melker, who is also known as The Wolf Of All Streets online and claims to have funds worth seven figures on Voyager.

“Listen, I’m out of millions of dollars,” he said, adding that he was embarrassed to be overexposed to Voyager despite often talking about risk management and protecting your assets.

Melker has around 851,000 followers on Twitter and 121,000 subscribers on YouTube. He stated that although he will lose a lot on Voyager, he feels worse about previously promoting the platform to audiences, friends and family.

“I understand that people make their own decisions, but they would not even have thought about it if I had not included [Voyager] to their attention. And honestly, it’s worse than losing my own money. “

As part of Voyager’s bankruptcy process, company executives have outlined intentions to first reorganize the business into a new entity, and then repay users via a combination crypto, the proceeds of the Three Arrows Capital (3AC) recovery, Voyager tokens and common shares in a newly organized company.

However, it is unclear whether this will result in full compensation for all users.