Online Bank Users Horrified as Their Savings Accounts Vanish Into Thin Air

Quick Summary:

Collateral Damage People who put their savings into fintech services are left holding the bag after a little-known firm went belly-up — and took their life savings down with it.

Immediately after Synapse filed for bankruptcy, a court-appointed trustee discovered that up to $96 million of its customer funds were missing.

"We were informed last Monday that Evolve was only going to pay us $500 out of that $280,000," Morris told the California bankruptcy court.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Noor Al-Sibai

Category: Technology

Markets: United States

Topics: The digest Finance Fintech Future Society Bankruptcy

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-26 @ 16:06:18 (3 days ago)

News Timezone: GMT +8:00

News Source URL: futurism.com

Language: English

Article Length: 398 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Futurism

News ID: 23945662

View Article Analysis

About Futurism

Main Topics: Technology

Official Website: futurism.com

Update Frequency: 8 posts per day

Year Established: 1997

Headquarters: United States

News Last Updated: 14 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #68

Publisher Details

Frequently Asked Questions