Tag

Account Lockout

All articles tagged with #account lockout

finance1 year ago

"85,000 Bank Accounts Frozen Amid Synapse Bankruptcy, Yotta CEO Confirms"

Yotta, a fintech savings app, has seen 85,000 customer accounts locked due to a dispute between its banking partners, Synapse and Evolve Bank & Trust. The issue, which has left $112 million in savings inaccessible, stems from disagreements over transaction ledgers and has affected multiple fintech firms. The crisis highlights the risks in the "banking as a service" model and has prompted calls for increased regulatory scrutiny. Former FDIC Chair Jelena McWilliams has been appointed trustee to resolve the Synapse bankruptcy and return funds to users.

technology2 years ago

Starlink Users Locked Out of Accounts Due to Overzealous Fraud Detection

Starlink users were locked out of their accounts due to an overzealous fraud detection bug that falsely flagged legitimate accounts as fraudulent. Affected users received an email acknowledging the mistake and stating that account modifications would be reverted by the end of the week. However, some users are still unable to access their accounts and have faced difficulties contacting Starlink's limited customer support options. Additionally, some users reported a service interruption coinciding with the account lockout.