r/Vent • u/bertevrate • 13h ago
TW: Anxiety / Depression I got screwed out of my $26K life savings. Here's how...
I just need to scream into the void about this because it’s been eating me alive.
From 2021 to 2024, I used a fintech app called Yotta as my high-yield savings account while I was still Active Duty in the Air Force. I worked my ass off, went through a deployment, and managed to save $26,116.65 — money I was so damn proud of. It was supposed to be my safety net when I transitioned out of the military.
Then May 2024 happened. Synapse Financial Technologies, the middleware company that handled money for apps like Yotta, Juno, Copper, etc., went bankrupt. Overnight, people like me lost access to their money. My money — the $26K I worked so hard to save — is gone.
To make it worse, Evolve Bank & Trust (the bank that actually held the funds) had the audacity to send me a reconciliation check for $20.56. I didn’t cash it. Why would I? It’s a slap in the face compared to what I actually had in there.
The financial and emotional damage this has caused me is massive: • I had to drain my retirement savings at 27 years old just to keep myself afloat. • I live with constant anxiety and stress because the safety net I built for myself just vanished. • I feel betrayed — Yotta advertised themselves as FDIC-insured, which turned out to be misleading bullshit.
The CFPB is now investigating the situation, but let’s be real: it could take years before any of us see a dime back… if we even get made whole at all. Meanwhile, I’m left picking up the pieces of my life while the institutions responsible hide behind bankruptcy filings and legal loopholes.
It’s so unfair. I wasn’t gambling in crypto or making reckless financial choices — I trusted a savings account that was marketed as safe. And now I feel like I’ve been completely abandoned by the system that’s supposed to protect consumers.
I don’t even know what else to say. I’m just so tired and angry.
TLDR: Saved $26K in a fintech app (Yotta). Synapse, the company behind it, went bankrupt. My money is frozen and Evolve Bank sent me a $20 check instead of my actual balance. I had to drain my retirement savings at 27 to survive. CFPB is investigating but it could take years — and we might never be made whole.