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glorymanutdtiger
LSU Fan
Baton Rouge
Member since Jun 2012
2794 posts

Voyager also shut down temporarily

I cannot thank God enough that I pulled all my money this week. I used crypto wallet transfer to get it all out.

I had to do it over a span of 4 days

This post was edited on 7/1 at 2:22 pm


21JumpStreet
Colorado Fan
Member since Jul 2012
13423 posts
 Online 

Took mine off after celsius fiasco. Phew. I sold my btc rewards for the month this am and did a withdrawal.. I wonder if that goes through...


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30
AUHighPlainsDrifter
Auburn Fan
South Carolina
Member since Sep 2017
1913 posts

I can't thank him enough that I sold all 750 of my shares of this one when it was still $17. Wheeeew!


horsesandbulls
LSU Fan
Destin, FL
Member since Jun 2008
4475 posts

Well shit……

Thank god it’s money I’m ok with losing.


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50
glorymanutdtiger
LSU Fan
Baton Rouge
Member since Jun 2012
2794 posts

I don’t know why I went into panic last week but I started it withdrawing. It was taking too long.

I read on some blog that fastest way is to crypto transfer into Coinbase wallet. As it takes only 20 mins maximum. I did that over 4 days. I’m overwhelmed and thankful to God


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40
UltimaParadox
Alabama Fan
Huntsville
Member since Nov 2008
27344 posts

quote:

temporarily


Money gone


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101
Shepherd88
Member since Dec 2013
3924 posts

I moved all mine from Coinbase to Arculus cold wallet about 6 weeks ago.


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00
BottomlandBrew
LSU Fan
Member since Aug 2010
24974 posts

I used them when I first started buying, but it didn't take me long to see how crappy they were. Taking more than 24 hours to withdrawal funds is ridiculous. They were also worthless in easily getting my transaction data for tax purposes.


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30
iAmBatman
USA Fan
The Batcave
Member since Mar 2011
12181 posts

so glad I sold my bitcoin at $270!


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31
Slingscode
Rice Fan
Houston, TX
Member since Sep 2011
1535 posts

But..but..but...isn't it backed by gold?


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USA
Member since 2001
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Diseasefreeforall
Miami (FL) Fan
St Clair Co
Member since Oct 2012
3742 posts
 Online 

Not only is people's crypto in peril but Voyager's website led many to believe their fiat deposits were FDIC insured.

However, the fine print says that all the depositors' money is in an omnibus account in an FDIC insured bank so it's protected up to $250k per depositor only if the bank goes under, not if Voyager goes tits up. That's why you keep your cash in a real bank.


Hulkklogan
LSU Fan
Baton Rouge, LA
Member since Oct 2010
42666 posts

Not your keys, not your crypto.

I hope the world is paying attention. Centralized crypto institutions are failing. Man is fallible and greedy in a bull market, and fails in the bear.

Truly decentralized protocols and exchanges - all good.
This post was edited on 7/1 at 5:17 pm


BigHusky
Member since Jun 2022
1 post

quote:

Not your keys, not your crypto.


Richard Heart has been preaching this forever. Best man in crypto.


lynxcat
Rutgers Fan
Member since Jan 2008
23016 posts

at the idiots that acted like double digit interest returns was a gravy train with no risk.


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110
slackster
Stanford Fan
Houston
Member since Mar 2009
77556 posts

Took out my cash. Left about $1,700 in crypto. Oh well.


slackster
Stanford Fan
Houston
Member since Mar 2009
77556 posts

quote:

Not only is people's crypto in peril but Voyager's website led many to believe their fiat deposits were FDIC insured. However, the fine print says that all the depositors' money is in an omnibus account in an FDIC insured bank so it's protected up to $250k per depositor only if the bank goes under, not if Voyager goes tits up. That's why you keep your cash in a real bank.


Pretty sure the cash is still insured, it’s just a pain in the fricking arse to get it.


Diseasefreeforall
Miami (FL) Fan
St Clair Co
Member since Oct 2012
3742 posts
 Online 

quote:

Pretty sure the cash is still insured, it’s just a pain in the fricking arse to get it.


The cash is still insured to Voyager but not to people who deposited through Voyager. And who knows how much cash is actually in the bank account right now if Voyager was using it in investing schemes. It could still be fully funded, or not. The bank can only insure what's there.

And if the worst happened, it would be up to a bankruptcy court to decide what happens to whatever cash is in the account and backed by the FDIC.





Diseasefreeforall
Miami (FL) Fan
St Clair Co
Member since Oct 2012
3742 posts
 Online 

dup




This post was edited on 7/1 at 7:36 pm


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10
Yeti_Chaser
Member since Nov 2017
4018 posts

frick I was really trying to gamble and wait until today to pull out to collect one last interest payment


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10
slackster
Stanford Fan
Houston
Member since Mar 2009
77556 posts

quote:

https://i.imgur.com/YydwTA1.png


I’m not sure this is true, unless they completely lied…



To be fair, I don’t trust them one bit, hence why I took my USD out.


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