Gemini, a crypto exchange, has started allowing victims in the Voyager bankruptcy case to withdraw their funds.
They state that users affected by the Voyager situation can only transfer cryptocurrencies supported by Gemini. Any cryptocurrency sent from Voyager to a Gemini account that is not supported may be permanently lost.
Gemini also advises users to be cautious and conduct necessary checks before depositing Bitcoin, as there is a risk of financial loss. In addition to the withdrawal process, Voyager will begin returning a portion of their client’s funds.
Gemini has announced a special promotion for new Voyager clients in the United States. If they sign up and verify their accounts within 30 days of the launch, they will receive $5 worth of Bitcoin.
Recently, Paul Hage, the administrator of Voyager Digital’s bankruptcy plan, announced the expected commencement of cryptocurrency brokerage withdrawal.
The anticipated withdrawal will occur between June 20 and July 5. The app will be updated on June 15 to show the available withdrawal amount.
Voyager filed for bankruptcy in July 2022 after the cryptocurrency hedge fund Three Arrows Capital (3AC) failed to pay back $650 million owed to the brokerage.
The window for transferring cryptocurrencies will remain open until July 23, 2023. After this date, Voyager will liquidate any tokens remaining and distribute the proceeds to users in cash.
