Voyager to return $270 million to customers

The bankruptcy court deciding Voyager’s Chapter 11 case has given its approval for the troubled crypto firm to return up to $270 million to customers.

Judge Michael Wiles, who is presiding over Voyager’s case in the US Bankruptcy Court in New York, gave the green light for Voyager to return customer funds.

The funds are held in a custodial account at Metropolitan Commercial Bank (MCB).

That figure currently is $270 million, per the The Wall Street Journal.

Voyager entered Chapter 11 bankruptcy proceedings in early July after halting withdrawals.

Since going bankrupt, Voyager has sought to honor customer withdrawals for the funds held by Metropolitan Commercial Bank, which acts as a cash custodian for Voyager.

At the time of the initial application, court documents showed the amount in the account was about $350 million. MCB told the Journal that Voyager had about $270 million in the account when it filed for bankruptcy.