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Unlocking Withdrawals from Bankrupt Crypto Platform: A Massive $250 Million Exodus

  • Voyager Digital, a cryptocurrency lending platform, resumed withdrawal operations after a bankruptcy process, resulting in a significant outflow of funds.
  • Before the resumption of withdrawals, the platform had a total balance of over $426 million, but after the reopening, there was a net outflow of $250 million in cryptocurrencies.
  • The remaining assets on the platform consist mainly of Bitcoin and Ethereum, accounting for 68% of the total.

Voyager Digital Resumes Withdrawals, Leading to Significant Outflow of Funds

Voyager Digital, a cryptocurrency lending platform, has successfully completed its liquidation process and resumed withdrawal operations on June 23. This development has led to a significant outflow of funds, with users withdrawing a total of $250 million in cryptocurrencies from the platform.

Net Outflow of Funds After Resumption of Withdrawals

According to data provided by Dune Analytics, prior to the reopening of withdrawals, Voyager Digital had a total balance of over $426 million. However, after the resumption, there was a net outflow of $250 million in cryptocurrencies. This indicates that many users took advantage of the opportunity to withdraw their funds from the platform.

The withdrawn cryptocurrencies include 2,287 Bitcoin (BTC), 27,363 Ether (ETH), 18.56 million USD Coin (USDC), 2 trillion Shiba Inu (SHIB), and a small portion of other tokens, amounting to approximately $176.4 million.

Main Assets on the Platform

The remaining assets on the Voyager Digital platform primarily consist of Bitcoin and Ethereum, which account for 68% of the total. These two cryptocurrencies have proven to be the most popular and widely held assets among users.

It is worth noting that the platform’s native token, VGX, is not included in the aforementioned figures as it is not considered a clean asset. Therefore, the actual value of the platform’s assets may be higher when accounting for VGX.

Overall, the resumption of withdrawal operations on Voyager Digital has resulted in a significant outflow of funds, indicating that users are eager to regain control of their cryptocurrencies. The platform’s focus on Bitcoin and Ethereum as the main assets reflects the continued popularity and demand for these leading cryptocurrencies in the market.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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