Voyager Digital
A U.S. crypto brokerage that froze withdrawals and filed for bankruptcy in July 2022. The FTC charged the company and former CEO Stephen Ehrlich with falsely telling customers their deposits were FDIC-insured; the company settled for a suspended $1.65B judgment.
Also known as: Voyager Digital, Stephen Ehrlich
Summary
Voyager Digital was a publicly listed U.S. cryptocurrency brokerage that halted customer withdrawals and filed for Chapter 11 bankruptcy in July 2022, following the collapse of Three Arrows Capital, to which it had significant loan exposure. [1][2]
FTC action
In October 2023 the Federal Trade Commission charged Voyager and former CEO Stephen Ehrlich, alleging they falsely claimed customer deposits were insured by the Federal Deposit Insurance Corporation (FDIC) and were "safe". Voyager's entities agreed to a $1.65 billion judgment (suspended) and a permanent ban from handling consumers' assets; the FTC pursued claims against Ehrlich, and the CFTC filed a parallel case. [1][2]
Note
Voyager's deposits were not FDIC-insured; the FDIC had earlier sent a cease-and-desist over the representations. [1]
Bracketed numbers refer to the numbered sources listed below.
Sources (2)
- FTC Takes Action Against Crypto Company Voyager and its Former CEO — U.S. FTC
- Voyager Digital (overview) — Wikipedia
See also
Gala Games exploitTokensOn May 20, 2024 an attacker abused a privileged minter account on the GALA token contract to mint 5 billion GALA (≈$200M+ nominal) and dumped ~600M of them for ~$22M of ETH before Gala froze the address. Gala Games called it an internal access-control failure; the attacker later returned the ~$22M.
HEX / PulseChain (Richard Heart)ProjectsCrypto projects (HEX, PulseChain, PulseX) created by Richard Heart (Richard Schueler). In July 2023 the U.S. SEC sued him for offering unregistered securities that raised $1B+ and for allegedly misappropriating ~$12M for luxury goods (including a 555-carat diamond). A court dismissed the case in 2024 for lack of U.S. jurisdiction; there was no finding of wrongdoing and Heart denies the allegations.
This page was last updated on Jun 15, 2026. View revision history.
