• Voyager customers can create accounts on Gemini to receive cryptocurrencies.
  • However, users may lose unsupported assets sent to their Gemini account as the crypto exchange only allows supported tokens.
  • Voyager Digital filed for bankruptcy protection in July 2022.

Regulated cryptocurrency exchange Gemini has added cryptocurrency withdrawal support for customers of bankrupt crypto lender Voyager Digital.

Gemini is blog announcement On June 25th, cryptocurrency transfers for Voyager victims will begin and will run until July 2023. To access support, Voyager bankruptcy victims will need to create a Gemini account to process withdrawals.

Until July 23, 2023, Voyager customers affected by Voyager’s bankruptcy can create a Gemini account and withdraw their virtual currency in kind, as dictated by the distribution process.’” the exchange wrote.

Gemini only allows withdrawal of supported tokens

Voyager Digital filed for bankruptcy protection in July 2022 amid the cryptocurrency epidemic following the collapse of Terra Luna and Three Arrows Capital (3AC). Customers waited for withdrawals to resume after crypto lenders suspended trading amid mounting selling pressure across the market.

Customers got a big boost in May this year when the platform announced that victims would soon be able to get their assets back in kind. The forecast was that the customer could receive 35% of his cryptocurrency deposit.

This means that customers will receive refunds in the same digital assets that were held in their accounts prior to suspension of withdrawals and subsequent bankruptcy filings, but with unsupported assets and native Voyager tokens. Accounts with VGX collect them via the USDC stablecoin.

Tokens not withdrawn by the end of the stipulated period will be liquidated and distributed to each customer in cash.

Voyager customers should “carefully check” that Gemini does not allow withdrawals related to unsupported tokens and that users are only transferring supported tokens should be noted.

“Unsupported tokens sent to a Gemini account may be lost and permanently irrecoverable. Similarly, sending tokens to Gemini over an unsupported network may result in a permanent loss of funds. will be,” Gemini warned.

By Jules

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