Bankrupt Voyager Transfers 1,500 ETH and 250B SHIB to Coinbase

• Voyager, transferred 1,500 ETH and 250 billion SHIB to the Coinbase Exchange.
• The firm is also collecting all the remaining tokens in its wallet address to the main address.
• Ember noted that Voyager is set to begin its final fiat payment process to its customers.

Ember, the on-chain data platform, reported that Bankrupt crypto firm, Voyager, transferred 1,500 ETH, worth $2.77 million, and 250 billion SHIB, worth $2.7 million to the Coinbase exchange. The firm transferred the digital assets today, Saturday, August 12, 2023. According to Ember, Voyager is also collecting all the remaining tokens in its wallet address to the main address.

In a post on X (formerly Twitter), Ember noted that Voyager has closed cryptocurrency claims on its defunct platform and is set to begin its final fiat payment process. According to Ember, the recent transfers are part of the efforts by Voyager to sell off its remaining cryptocurrencies and pay users in USD.

Previously, Voyager users had the option to either claim and withdraw 35.72% of their tokens or not withdraw the tokens and choose to be paid in USD 30 days after Voyager sells the crypto tokens. Data from ArkhamIntel show that Voyager’s wallet address holds $81.63 million worth of cryptocurrency. The bankrupt crypto firm aims to sell these tokens soon.

Voyager started processing withdrawals for its users on June 24 this year. It was the first effort toward returning users’ assets since it declared bankruptcy in 2022. During the initial refund process, Voyager allowed users to reclaim 35.72% of their digital assets instead of waiting to be refunded in fiat.

According to reports, Voyager boasted 3.5 million users at its height, with 97% of customers storing less than $10,000 on the platform. It was a crypto lending platform, one of the few listed on stock markets in different parts of the world. The firm boasted a promising future until the 2021 bear market, which had a damaging impact on the firm and its partners.