Voyager Digital Faces Data Breach During The Reopening

The reopening of the platform did not go well for Voyager Digital as it seems that it suffered a hacker attack during the process.

Bankruptcy Filing and Platform Reopening

Voyager Digital Ltd., a crypto broker, filed for Chapter 11 bankruptcy protection shortly after receiving support from Sam Bankman-Fried’s Alameda Research due to market volatility and a hedge fund’s collapse. The company reopened its platform for 30 days to allow customers to retrieve assets during the court-supervised liquidation process.

Potential Data Breach and Scams

During the platform reopening, reports emerged of a possible data breach and scams targeting customers’ wallets. A lawyer representing Voyager mentioned that the company might have been hacked, and some customers fell victim to fraudulent schemes aimed at draining their non-Voyager wallets.Amid the bankruptcy proceedings, allegations emerged that former customers’ personal data was compromised, adding to the company’s woes.

Judge’s Disapproval and Financial Challenges

The bankruptcy judge expressed dismay at the reported scams and the challenges faced by customers during the bankruptcy process. Voyager’s financial situation was challenging, with estimates suggesting customers could recover only a fraction of what they were owed.

Troubles and Collapse

Voyager Digital has experienced significant growth since its founding in 2018, reaching 3.5 million users and holding approximately $6 billion in cryptocurrency assets.
The company faced significant troubles when Three Arrows Capital failed to repay $666 million in loans, leading to the suspension of trading and eventual bankruptcy filing. Despite the challenges, Voyager Digital’s customers approved the company’s Chapter 11 bankruptcy plan, with a majority voting in favor.

Partial Cryptocurrency Deposit Return

Following unsuccessful buyout attempts by Binance.US and FTX, Voyager Digital is set to return 35% of customers’ cryptocurrency deposits, providing some relief amid the ongoing bankruptcy proceedings.


Voyager Digital’s bankruptcy filing and the alleged data breach have created difficulties for customers seeking to recover their assets. The platform reopening allowed partial asset retrieval, but the financial challenges remained significant. Despite these setbacks, Voyager’s growth since its inception has been notable. As investigations continue, customers hope the approved bankruptcy plan will offer some reprieve, even if only a portion of their initial deposits can be returned.