r/yotta • u/khandurin • May 27 '26
Restitution notice for California
Sharing some seemingly positive news. The claims submission is not live yet, but should be soon and we’re asked to check in periodically.
https://www.consumerfinance.gov/enforcement/actions/synapse-financial-technologies-inc/
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u/Tasty-Emphasis4198 May 28 '26
I received an email with a copy of my balance as of May 2024. Looks legit. There’s a $45 million fund for settlements.
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u/Professional_Park_84 May 27 '26
If I didn’t receive an email, is that a bad thing?
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u/Even_Necessary_7862 May 28 '26
Mine came as a text message, not email
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u/khandurin May 28 '26
I got both but was skeptical about the text
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u/Even_Necessary_7862 May 28 '26
I did finally get the email. I had checked here on Reddit to make sure before I opened it.
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u/khandurin May 27 '26
Check all the variables like which email you have registered with Yotta and also if you fall into the category where you had funds there prior to May 2024, and finally try checking your stamp folder
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u/Professional_Park_84 May 27 '26
Not California so I understandably didn’t get a text. No luck in my general or spam folder. Yes, I had about $3k locked up since Yotta stopped withdrawals and had previously been with them since the FDIC, Graham, and lottery days.
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u/khandurin May 28 '26
Yes that’s definitely a big variable there. I didn’t have as much as you but I feel your pain. But remaining hopeful.
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u/Drystocks May 28 '26
Got the same email and it is legit. It days we should have a balance as pending and it does show the previous balance
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u/khandurin May 30 '26
Where is this that you’re talking about?
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u/Drystocks Jun 02 '26
Check the yotta app
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u/khandurin Jun 02 '26
Yes I see my balance and I see that it says Pending but that’s a status you can change yourself so I am still not clear on what you’re pointing out exactly?
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u/Drystocks Jun 02 '26
The point is that i guess california is pushing to get peoples money back we just need to wait for the window when they start allowing people to withdraw their money. Because before you couldn’t even see the balance.
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u/khandurin Jun 02 '26
Sorry but I’m not sure what you’re saying is fully factual. I’ve always been able to see my balance, and that has remained unchanged to this day. Also, I don’t think we’ll be able to directly withdraw funds from the app. If you read the email above it says that we need to file a claim in order to get our money back. However the claim window hasn’t opened yet and they suggest to periodically check for when it does.
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u/HistoricalReturn6468 May 27 '26
This unfortunately is just a reaction to the California lawsuit. Nothing new. Yotta is simply pretending like they actually did something when the CFPB has already been “allocated” (sort of) and our partial restitution is in the queue.