Major crypto exchange Voyager Digital halted all trading, deposits and withdrawals, preventing all users from accessing their funds after losing over half of its assets from Three Arrows Capital's (3AC) default on a loan worth over US$650 million.
Voyager Digital is a crypto firm that functioned similarly to a bank through which users could deposit dollars or crypto to earn up to 12% interest.
However, the exchange, whose stock price had declined over 90% year-to-date, received another blow as 3AC failed to repay its $650 million loan.
