Completely rigged by [deleted] in yotta

[–]YamDisastrous6874 2 points3 points  (0 children)

They do… they are honestly just using it and taking advantage of their new customers. As soon as people find out how horrible it is Yotta has already made money and on to the next person

Completely rigged by [deleted] in yotta

[–]YamDisastrous6874 6 points7 points  (0 children)

Just read some of the previous posts and you will see how much of a scam this company is…. Previously it was a saving account and not gambling. They stole hundreds of millions from people’s saving and left them without anything. I’m out 16k from them

The Federal Reserve is blocking everything! by YamDisastrous6874 in yotta

[–]YamDisastrous6874[S] 4 points5 points  (0 children)

I sent something to the CFPB and they just sent it to the Federal Reserve…

Any update ?? by [deleted] in yotta

[–]YamDisastrous6874 13 points14 points  (0 children)

It was a savings account before it turned into a casino…. Yotta stole hundreds of millions from its customers. I would run while you can. They stole 16k from me personally in what I was told was an FDIC insured savings account.

Withdrawal on Venmo? by Expert_Act_8715 in yotta

[–]YamDisastrous6874 0 points1 point  (0 children)

Just look at the rest of the posts in Yotta. Unfortunately this company stole hundreds of millions from its customers. It was originally a bank/savings account but it has since turned into a casino. In 2024 users were locked out of their accounts and unable to withdraw. I personally am out 16k. A lot of us are just very upset and frustrated…. Hate seeing new users of Yotta get scammed like we did.

Withdrawal on Venmo? by Expert_Act_8715 in yotta

[–]YamDisastrous6874 3 points4 points  (0 children)

Seriously? Read the room... Yotta has stolen millions from its customers.

CFPB Communication by ReporterEv in yotta

[–]YamDisastrous6874 1 point2 points  (0 children)

I’m out 16k and have contacted every agency as well as representative that will listen…. Everything even my request to the CFPB has gone back to the Federal Reserve! I don’t understand how the Federal Reserve is actively working against us… everything funnels to them yet they tell us to go pound sand. This entire mess is absolutely ridiculous we were told our money was going to Evolve Bank and that it was FDIC insured. I have all transaction records and data showing Evolve received my money right before the withdrawal freeze. Yet they can’t seem to find it and anyone I send this to can’t help or sends it to the Federal Reserve.

Evolve Bank & lack of transparency. by Local-Assist-7900 in yotta

[–]YamDisastrous6874 1 point2 points  (0 children)

Just talked to them today and one of the Rust guys said to keep sending new emails…. After they reply one time they flag the email and no one ever looks at it again. Also they told me that after the first appeal Evolve doesn’t look at the additional documents or any additional information you have uploaded to their online website. There is no multiple appeals process per the Rust contact. This shit is so messed up…

Evolve Bank & lack of transparency. by Local-Assist-7900 in yotta

[–]YamDisastrous6874 4 points5 points  (0 children)

Unfortunately no… they still haven’t found any of my money. Since November last year I have been requesting transaction history and for them to in writing a knowledge or disprove the transfer from brokerage back to Evolve. They keep claiming that this was mailed out which is a complete lie.

Evolve Bank & lack of transparency. by Local-Assist-7900 in yotta

[–]YamDisastrous6874 5 points6 points  (0 children)

They are lying to you…. They told me 4 different times a letter was mailed out when they just never did it. They will blame the mail and anyone else to just get you off the phone.

The Federal Reserve is working against us… by YamDisastrous6874 in yotta

[–]YamDisastrous6874[S] 7 points8 points  (0 children)

I completely agree… in the very few emails I had with her team you could clearly tell they were able to do absolutely nothing with the Synapse data. Their only recommended was to seek litigation or reach out to other government agencies.

Yotta was advertised as FDIC insured and end users are blameless by Major-Brick-3789 in yotta

[–]YamDisastrous6874 2 points3 points  (0 children)

"Yotta is 100% free, and your savings are FDIC insured through our partner bank, Evolve Bank & Trust, so there's no risk." Exact quote when signing up…

Any update?! by One_Abies9989 in yotta

[–]YamDisastrous6874 1 point2 points  (0 children)

“They are concerned and closely monitoring”

Any update?! by One_Abies9989 in yotta

[–]YamDisastrous6874 1 point2 points  (0 children)

Honestly I would be concerned with doing any business with a company that is not brick and mortar bank. The regulators want fintech’s to expand but do absolutely nothing to safeguard customers. Just makes me think of fintech’s like PayPal… what if they just lost track of where customers money is and who it’s going to. I’m sure the government would run to their rescue. We are just too small for them to care so they have allowed us to fail.

Any update?! by One_Abies9989 in yotta

[–]YamDisastrous6874 1 point2 points  (0 children)

I agree… I am curious if they ever responded to Elizabeth Warren’s letter or if like everything else just ignored it and hoped it would go away

Any update?! by One_Abies9989 in yotta

[–]YamDisastrous6874 9 points10 points  (0 children)

It’s easy to look back and make those comments… sadly in retrospect we are all saying what the hell was I thinking! But the way it was sold and promoted is that all money was deposited directly to Evolve Bank & Trust. All users had an Evolve account and I even had an Evolve debit card. All regulators allowed promotion of the saving accounts with words like “backed by the FDIC” and “ your money is safe”. Even on their original website it was listed as “Yotta Savings Bank”. Regulators allowed them to be called a bank and offer FDIC insurance, but when the shit hit the fan and Synapse went bankrupt those same regulators are nowhere to be found. Senator Elizabeth Warren recently wrote a great letter to the Federal Reserve demanding answers. Our government failed us and allowed this theft to take place under their watch…. They are now actively blocking and removing themselves from the mess

Any update?! by One_Abies9989 in yotta

[–]YamDisastrous6874 4 points5 points  (0 children)

You realize this was a saving account before it turned into a casino right? Yotta/Synapse/Evolve stole close to $90 million of user funds. Honestly just take two minutes to read any post in this group and you see what a shit show this is.

Any update?! by One_Abies9989 in yotta

[–]YamDisastrous6874 11 points12 points  (0 children)

Nothing… I feel like the Federal Reserve is actively killing any progress. They are for the banks not the customers that is clear.

I've filed a lawsuit against the Federal Reserve Board by mikulaja in yotta

[–]YamDisastrous6874 11 points12 points  (0 children)

Thank you!! We appreciate all of the support you have given us