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Title: Synapse lost nearly all of the banking app Yotta's $109 million in deposits, leaving 100,000 customers locked out since May.
Source: [None]
URL Source: https://citizenwatchreport.com/bank ... in-customer-deposits-vanished/
Published: Jun 23, 2024
Author: staff
Post Date: 2024-06-23 17:15:20 by Horse
Keywords: None
Views: 50

Ledgers of the failed fintech middleman Synapse show that nearly all the deposits held for customers of the banking app Yotta went missing weeks ago. A network of eight banks held $109 million in deposits for Yotta customers as of April 11, according to Evolve Bank & Trust, which filed a bankruptcy court letter. However, about one month later, the ledger showed just $1.4 million in Yotta funds held at one of the banks.

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