[Image of a computer screen with the Voyager logo and the text “Important Update: Voyager Suspends Trading, Withdrawals, and Deposits” displayed on it]
Will I Get My Crypto Back from Voyager? Everything You Need to Know
Hey there, readers!
Ever since Voyager went belly-up, you’ve been anxiously asking yourself: “Will I get my crypto back from Voyager?” It’s a fair question, especially considering all the conflicting information circulating. So, let’s dive right in and try to unravel this complex situation together.
The Current Situation
What Happened to Voyager?
In July 2022, Voyager Digital, a cryptocurrency trading platform, filed for Chapter 11 bankruptcy due to a severe liquidity crisis. This sent shockwaves through the crypto community and left many investors worried about the fate of their assets.
What Voyager Has Said
Voyager has stated that it’s working diligently to recover customers’ assets. However, it has warned that the process could be lengthy and complex. The company has also indicated that it may need to sell some of its assets to raise funds.
Your Chances of Recovery
Factors that Affect Recovery
Several factors influence the likelihood of you getting your crypto back from Voyager:
- Account Type: If you had a self-custody account, where you controlled your private keys, you might have a better chance of recovering your assets.
- Deposited Funds: If you had funds deposited in Voyager’s Earn program, your recovery may be delayed or impacted by the Chapter 11 proceedings.
- Unsecured Claims: Customers with unsecured claims may have a lower priority for recovery.
Potential Outcomes
Depending on these factors, there are a few possible outcomes:
- Full Recovery: In the best-case scenario, Voyager may be able to repay customers in full.
- Partial Recovery: Customers may receive a percentage of their assets back, based on the available funds.
- Loss of Funds: Unfortunately, there’s a chance that some customers may lose some or all of their crypto.
Timeline and Details
Bankruptcy Process
The Voyager bankruptcy process is expected to take several months, if not longer. During this time, the company’s assets will be managed by a court-appointed trustee.
Distribution to Creditors
Once the bankruptcy proceedings are complete, creditors, including customers, will be notified about the distribution of recovered funds.
Table Breakdown
| Account Type | Recovery Chances |
|---|---|
| Self-Custody | High |
| Earn Account | Delayed / Impacted |
| Unsecured Claims | Lower Priority |
Expert Perspectives
Industry experts have weighed in on the situation, with mixed opinions. Some believe that customers will eventually recover their assets, while others are more pessimistic.
Conclusion
Getting your crypto back from Voyager may be a long and uncertain process. However, it’s important to stay informed and be prepared for various outcomes. Keep an eye on Voyager’s official announcements and updates. In the meantime, feel free to check out our other articles on cryptocurrency and investing.
FAQ about Voyager
Will I get my crypto back from Voyager?
It is not yet known whether Voyager customers will be able to recover their crypto assets. Voyager has filed for bankruptcy and is in the process of liquidating its assets. The outcome of the bankruptcy proceedings will determine how much, if any, of Voyager’s customers will be able to recover.
What is the latest news on the Voyager bankruptcy?
Voyager filed for bankruptcy in July 2022. The company has since been in the process of liquidating its assets. The latest news on the bankruptcy is that Voyager has reached an agreement to sell its assets to Binance.US. The sale is still subject to approval by the bankruptcy court.
What does the Binance.US deal mean for Voyager customers?
If the Binance.US deal is approved, it is possible that Voyager customers will be able to recover some of their crypto assets. Binance.US has said that it will honor Voyager’s customer accounts. However, it is not yet known how much of Voyager’s customers’ assets will be available.
What if I don’t want to transfer my account to Binance.US?
If you do not want to transfer your account to Binance.US, you can opt out of the sale. You will need to file a claim with the bankruptcy court in order to do so. The deadline to file a claim is October 28, 2022.
What are the chances of getting my crypto back?
The chances of getting your crypto back depend on the outcome of the bankruptcy proceedings. It is possible that you may be able to recover some of your assets, but it is also possible that you may not be able to recover any of your assets.
What can I do to increase my chances of getting my crypto back?
There are a few things you can do to increase your chances of getting your crypto back:
- File a claim with the bankruptcy court.
- Opt out of the Binance.US sale.
- Keep track of the latest news on the bankruptcy.
What is the status of my claim?
You can check the status of your claim on the Voyager website.
What if I have questions about my claim?
You can contact Voyager customer support for help with your claim.
What is the deadline to file a claim?
The deadline to file a claim is October 28, 2022.
What is the website for Voyager customer support?
The website for Voyager customer support is https://voyager.com/support.