The Arkham Intelligence dashboard shows that Voyager's current cryptocurrency holdings have dropped to $175 million.
Now-bankrupt cryptocurrency lender Voyager has seen net outflows of around $250 million since it reactivated withdrawals on June 23, according to data from Dune Analytics.
Data from Dune shows that Voyager saw a large number of withdrawals in the week starting July 3, with users withdrawing $64 million worth of Bitcoin ( BTC ), $74 million in USDC, and more than $17 million in Ethereum ( ETH ). The platform also recorded large withdrawals of Shiba Inu ( SHIB ) and other cryptocurrencies.
Voyager users have been withdrawing assets to centralized exchanges, including Kraken, Crypto.com, and others.
Meanwhile, the Arkham Intelligence dashboard shows that the lender’s current cryptocurrency holdings balance is $175.98 million as of July 10.
BTC held by lenders accounts for $70.91 million of the remaining funds, while their ETH balance is $49.18 million. USDC, SHIB, and its VGX token make up the top five asset balances of bankrupts.
Voyager users have withdrawn only 35% of their assets.
On May 19, a U.S. bankruptcy court approved Voyager’s plan to return more than $1 billion in cryptocurrency to its customers.
Following the news, the lender’s bankruptcy administrator, Paul Hage, revealed that the company plans to open a 30-day window to allow affected users to withdraw 35.72% of their platform balances.
According to the lender’s website, users who fail to withdraw their crypto assets during this period will be repaid in fiat dollars at a later time.
Meanwhile, Hage said that after the initial distribution of cryptocurrency is complete, Voyager’s focus will “shift to recovering additional assets that can be distributed to creditors.”
Some of the lenders’ debtors include bankrupt cryptocurrency hedge fund Three Arrows Capital, which also owes substantial debts to the defunct FTX and its related entities.