| 11/19/2022 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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Web |
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On the afternoon of Monday XX/XX/XXXX, I sent a wire transfer in a XXXX XXXX XXXX for {$92000.00}, to transfer my money from XXXX investment account that I divested from into my account at XXXX XXXX, which I had already approximately {$8700.00} in, that was in XXXX USD, as I am a spot trader of ETH and Stocks from that platform. The account my money was transferred to by Wire was registered in my name, XXXX XXXX, I have the account number for you, if needed please contact me, the beneficiary bank is Silvergate BankXXXX XXXX XXXX XXXX XXXX XXXX.
I did not see my funds in my XXXX XXXX account the morning of XX/XX/XXXX, at this time I got news of the potential liquidity issues of XXXX, and immediately reached out to XXXX support to see where my money was. Immediately after I heard back from XXXX support I saw the amount of {$92000.00} added to my account for a total of approximately {$100000.00} in my account.
I do not know if the {$92000.00} was actually in my account.
I immediately attempted to wire the funds back to my XXXX XXXX account, and wire transfer was not available on XXXX at that time, so I sent the funds back in several ACH transactions, {$30000.00} on XXXX, and on XXXX, I sent XXXX transactions of {$25000.00}, {$10000.00}, {$5000.00}, and {$700.00}, all XXXX USD.
From information stated on the XXXX XXXX website, within my account, the XXXX USD in my account was held in trust by XXXX Bank and Trust last XXXX digits of my account number with Evolve are XXXX. I immediately received an email confirmation of the ACH transaction requests, followed by an immediate email confirmation the these transactions had been completed. I immediately reached out to XXXX support to confirm that the ACH transfers were sent and they confirmed that they had been completed and to reach back out if I did not get the money in the next XXXX days, per the time is takes an ACH to land in the receiving account.
Later on XXXX, I felt the need to call back the rest of my money and was able to send a wire at that time, perhaps the money that was left in my account was actually in there, as I started with roughly {$8000.00} to begin with, pre wire transfer? I sent {$1000.00}, and {$2000.00}, by Wire transfer. These transfers stayed in " requested '' status until the XXXX XXXX website was taken off line.
I had approximately {$2000.00} left in my FTX XXXX account at this time, as this money was not available to withdrawal, as I had sent an ACH transfer of {$2000.00} on XXXX, that would not be available for withdrawal until XX/XX/XXXX, as stated on the XXXX XXXX website, per their long hold time to clear that deposit.
I waited a week for the ACHs to come and they never did. XX/XX/XXXX was a bank holiday, so I waited until Monday. I called XXXX XXXX several times and asked them to look at the ACH system, and they said no transfers were incoming to my account ending in XXXX that I had sent the money to.
I have reached out to XXXX XXXX and XXXX to ask if the funds were sent, and have not heard back from them regarding my question.
I reached out to Silvergate Bank, personally, to ask them where my money went, that was sent to me, and that they were beneficiary from and was told that the money was not sent to an account for me, that it was send to an account for XXXX, who was their " client. '' They could not even tell me if they had my funds or had ever received them, despite, the wire transfer being made to me as a beneficiary, to an account in my name, with Silvergate Bank as beneficiary bank.
I then went to the XXXX XXXX branch and spoke with a banker in order to file a wire trace on the {$92000.00}. I filed this trace as a fraud. The banker I spoke to said that the account number with my name on it that the money was sent to seemed like an international account number because he had never seen a domestic number like that, although the banker that had sent the wire from XXXX XXXX, had never mentioned to me anything about the number looking strange. From what the investigator at XXXX XXXX told me, they reached out to Silvergate Bank to claim a fraud on the funds and have the money returned to my account with XXXX, and Silvergate Bank responded that they could not send the money back due to a bankruptcy procedure. XXXX XXXX was at this point involved in a Chapter XXXX proceeding.
I then had the case escalated to the fraud/crimes division of XXXX XXXX to see if that investigator could reach back out to Silvergate Bank to see if they could even get a confirmation that the money had been received, and also reach out to Evolve Bank and XXXX to see if the ACHs were sent, or if the money was in my account with Evolve, as was stated would be the place that would hold my XXXX dollars on the XXXX exchange XXXX I have not heard back from this XXXX, they were assigned the case on Thursday XX/XX/XXXX.
I think Silvergate Bank should be liable, and seems like they were an accomplice to XXXX XXXX at this point. I want my money back from Silvergate Bank. I requested that Silvergate Bank send me written documentation that they received my funds and the funds were given to XXXX, and that I did not have an account with them, which is what they told me on the phone, and I have not heard back.
I am wondering now what actions I should take and if there is a remedy to this situation that seems like a clear case of Wire fraud of the {$92000.00} with Silvergate Bank as a responsible party.
The approximately {$8700.00} that was already in my account, seems to be affiliated with XXXX XXXX and XXXX, and I am hoping to recover, at the very least that money, once the representative from XXXX gets back to me, but I am open to what options or advice you may have for me for that portion of the funds as well.
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| 01/03/2023 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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- Money was not available when promised
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Web |
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I believe that Silvergate Bank is holding cash funds that belong to me, without communicating in any way when they will return my funds of XXXX {$25000.00}. These funds represent a significant portion of my life savings and money I need in the short term for car, housing payments, food, and living expenses.
I am a customer of XXXX. XXXX has a XXXX account at Silvergate for XXXX $ holdings of their customers. I withdrew from my cash account balance via the XXXX desktop website, via XXXX separate ACH transaction for XXXX {$25000.00} to be sent to my bank account at XXXX XXXX XXXX, following the XXXX guidelines, instructions and terms of service on XX/XX/XXXX, 3 days prior to XXXX declaring bankruptcy on XX/XX/XXXX.
At the time, XXXX openly stated on their official website and XXXX page that withdrawals were fully operational and processing. Per my account on both the XXXX website and app, the funds were removed from my account. In addition, I received confirmation on the website, the app, and via XXXX support directly that my ACHs ( multiple ) were being sent. I have yet to receive my funds. The XXXX showed that my withdrawal funds were " SENT '' but this was a lie because I never received the funds.
The XXXX terms of service clearly state that my XXXX Dollar account balances would be held for my benefit at XXXX XXXX ; Your XXXX Account allows you to hold and transfer US dollars which are held by XXXX for your benefit at XXXXXXXX XXXXTo the extent you hold USD XXXX balances ( and such balances are not held in stablecoins or other investments ), those XXXX balances are held in customer omnibus accounts at XXXX banks ( Silvergate Bankfor customers of the XXXX of XX/XX/2022 ) When allowing XXXX to open and maintain an XXXX account at Silvergate, in order to ensure proper compliance with banking regulations, would Silvergate not have to have in place some form of proper level of oversight and transaction controls? Does Silvergate not have at least some awareness and assurance that XXXX is following proper risk and compliance protocols in regards to the XXXX account?
Does XXXX require XXXX to supply account reconciliation reports, customer ID program reports and transaction monitoring reports to SIlvergate on a regular basis? Assuming they do ( if not, why not? ), wouldnt or shouldnt Silvergate be aware of XXXX customer withdrawals from their XXXX bank account at Silvergate? Wouldnt or shouldnt it be the responsibility of Silvergate to assure that customer ACH requests shown as being processed by XXXX, with the funds debited from their Silvergate XXXX cash accounts ( at least per XXXX ), actually matches the fund withdrawal requests sent to SIlvergate, as well as the funds actually withdrawn from the account?
According to XXXX, my account was debited and these ACHs were outside of their control, unable to be canceled, and were being sent by XX/XX/XXXX. This was 3 days before XXXX declared bankruptcy and while withdrawals were fully open and processing. Given the monitoring and oversight that either was being done, or should have been done, shouldnt Silvergate, at the bare minimum, at least have been aware of these XXXX withdrawals over the 3 day period while XXXX withdrawals were open and functioning, prior to bankruptcy? If they were not aware, shouldnt they have been? Shouldnt Silvergate bear, at the very least, some responsibility for the return of these funds to me, their rightful owner per all of the above and the terms of the Silvergate XXXX account the funds were held in?
Please note this is the same situation as a separate complaint ( ID XXXX ) filed against XXXX XXXX XXXX XXXX XXXX XXXX XXXX
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| 01/20/2023 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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- Money was not available when promised
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Web |
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I believe that Silvergate Bank is holding cash funds that belong to me, without communicating in any way when they will return my funds. These funds represent my emergency living expenses. I am a customer of XXXX. XXXX has a XXXX account at Silvergate for XXXX $ holdings of their customers. I withdrew from my cash account balance via the XXXX XXXX XXXXia an ACH transactions of approx. XXXX to be sent to my bank account at XXXX XXXX following the XXXX guidelines, instructions and terms of service on XX/XX/2022, 2 days prior to XXXX declaring bankruptcy on XX/XX/XXXX ).
At the time, XXXX openly stated on their official website and XXXX page that withdrawals were fully operational and processing. Per my account on both the XXXX website and app, the funds were removed from my account. In addition, I received confirmation on the website, the app, and via XXXX support directly that my ACHs ( multiple ) were being sent. I have yet to receive my funds. The XXXX terms of service clearly state that my XXXX XXXX account balances would be held for my benefit at XXXXXXXX XXXX XXXX Your XXXX XXXXccount allows you to hold and transfer US dollars which are held by XXXX for your benefit at XXXX banksTo the extent you hold XXXX XXXX balances ( and such balances are not held in stablecoins or other investments ), those XXXX balances are held in customer omnibus accounts at XXXX banks ( Silvergate Bankfor customers of the XXXX XXXX XXXX XXXXXX/XX/XXXX ) When allowing XXXX to open and maintain an XXXX account at Silvergate, XXXX order to ensure proper compliance with banking regulations, would Silvergate not have to have in place some form of proper level of oversight and transaction controls? Does Silvergate not have at least some awareness and assurance that XXXX is following proper risk and compliance protocols in regards to the XXXX account?
Does Silvergate require XXXX to supply account reconciliation reports, customer ID program reports and transaction monitoring reports to SIlvergate on a regular basis? Assuming they do ( if not, why not? ), wouldnt or shouldnt Silvergate be aware of XXXX customer withdrawals from their XXXX XXXX account at Silvergate? Wouldnt or shouldnt it be the responsibility of Silvergate to assure that customer ACH requests shown as being processed bXXXX XXXX, with the funds debited from their Silvergate XXXX cash accounts ( at least peXXXX XXXX XXXX, actually matches the fund withdrawal requests sent to SIlvergate, as well as the funds actually withdrawn from the account?
According to XXXX, my account was debited and these ACHs were outside of their control, unable to be canceled, and were being sent by XXXX. This was 2 days before XXXX declared bankruptcy and while withdrawals were fully open and processing. Given the monitoring and oversight that either was being done, or should have been done, shouldnt Silvergate, at the bare minimum, at least have been aware of these XXXX withdrawals over the [ NUMBER ] day period while XXXX withdrawals were open and functioning, prior to bankruptcy? If they were not aware, shouldnt they have been? XXXX Silvergate bear, at the very least, some responsibility for the return of these funds to me, their rightful owner per all of the above and the terms of the Silvergate XXXX account the funds were held in?
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| 01/20/2023 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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- Money was not available when promised
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Web |
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I believe that Silvergate Bank is holding cash funds that belong to me, without communicating in any way when they will return my funds. These funds represent my emergency savings. I am a customer of XXXX. XXXX has a XXXX account at Silvergate for US $ holdings of their customers. I withdrew from my cash account balance via the XXXX app, via an ACH transaction of XXXX be sent to my bank account at XXXXXXXX XXXX following the XXXX guidelines, instructions and terms of service on XX/XX/2022, XXXX, days prior to XXXX declaring bankruptcy on XX/XX/XXXX ). At the time, XXXX openly stated on their official website and XXXX page that withdrawals were fully operational and processing. Per my account on both the XXXX website and app, the funds were removed from my account. In addition, I received confirmation on the website, the app, and via XXXX support directly that my ACHs ( multiple ) were being sent. I have yet to receive my funds.
The XXXX terms of service clearly state that my U.S. Dollar account balances would be held for my benefit at U.S. Banks ; Your XXXX Account allows you to hold and transfer US dollars which are held by XXXX for your benefit at U.S. banksTo the extent you hold USD fiat balances ( and such balances are not held in stablecoins or other investments ), those fiat balances are held in customer omnibus accounts at FDIC-insured banks ( Silvergate Bankfor customers of the XXXXas of XX/XX/2022 ) When allowing XXXX to open and maintain an XXXX account at Silvergate, in order to ensure proper compliance with banking regulations, would Silvergate not have to have in place some form of proper level of oversight and transaction controls? Does Silvergate not have at least some awareness and assurance that XXXX is following proper risk and compliance protocols in regards to the XXXX account?
Does Silvergate require XXXX to supply account reconciliation reports, customer ID program reports and transaction monitoring reports to SIlvergate on a regular basis? Assuming they do ( if not, why not? ), wouldnt or shouldnt Silvergate be aware of XXXX customer withdrawals from their XXXX bank account at Silvergate? Wouldnt or shouldnt it be the responsibility of Silvergate to assure that customer ACH requests shown as being processed by XXXX, with the funds debited from their Silvergate XXXX cash accounts ( at least per XXXX ), actually matches the fund withdrawal requests sent to SIlvergate, as well as the funds actually withdrawn from the account?
According to XXXX, my account was debited and these ACHs were outside of their control, unable to be canceled, and were being sent by XXXX. This was 3 days before XXXX declared bankruptcy and while withdrawals were fully open and processing. Given the monitoring and oversight that either was being done, or should have been done, shouldnt Silvergate, at the bare minimum, at least have been aware of these ACH withdrawals over the 3 day period while XXXX withdrawals were open and functioning, prior to bankruptcy? If they were not aware, shouldnt they have been? Shouldnt Silvergate bear, at the very least, some responsibility for the return of these funds to me, their rightful owner per all of the above and the terms of the Silvergate XXXX account the funds were held in?
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| 12/05/2022 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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Web |
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Commencing on or about XX/XX/2022, I fell victim to a multi-layered scam operation run by XXXX XXXX XXXX, which involved me making deposits for a total amount of XXXX USD from my Silver Gate bank account to the fraudulent investment firm.
When determining whats reasonable and fair, we should focus on the issue of liability ; common queries include, but are not limited to, the following : ( i ) whether Silver Gate Bank took notice of any rule, law, or regulation, and whether it possibly missed any material elements of the relevant bylaws or codes of conduct, that may have prevented them from protecting my financial safety ; ( ii ) whether by virtue of Silver Gate Banks custodianship over my funds or by its control over them, they owed a fiduciary duty to me and if so, whether that duty was breached ; ( iii ) whether Silver Gate Bank promoted the transactions in question despite being aware of the nature of the transactions ; ( iv ) whether Silver Gate Bank was in compliance with its own policies and procedures ; ( v ) whether Silver Gate Bank owed duties to me, what the scope of those duties was, and whether Silver Gate Bank upheld those duties ; ( vi ) whether Silver Gate Banks conduct was fair ; and ( vii ) whether Silver Gate Bank has within its power the ability to compensate me for the harm that has befallen me.
Upon identification of such unusual or suspicious activity, it is crucial that the relevant staff members adequately describe the factors making an activity or transaction suspicious, thoroughly depict the extent and nature of this activity, and properly communicate to the customer that such activity meets the relevant criteria of fraud.
In providing its services to a customer, a financial institution is required by law to exercise the care and skill of a diligent, prudent silver gate Bank er. In this case, this means that the payment service provider should not turn a blind eye to known facts pointing to a real possibility that their customer is being scammed. In other words, Silver Gate Bank must have had knowledge of what was occurring or been alerted to a real possibility of fraud taking place. The financial institution must have known or reasonably ought to have known that I was dealing with a scammer.
Granted, there is room for diversity of view insofar as reason is concerned. Indeed, there is a sense in which the standard of care of the reasonable person involves in its application a subjective element.
However, it must be remembered that the correct test is always reasonable care in all circumstances. The fact that most people behave in a certain way may be good evidence that the conduct is reasonable, but this is not necessarily the case. Although common sense is a very fluid concept, all of the evidence suggests that Silver Gate Bank did not foresee the fraud and disregarded even the most obvious dangers in this respect.
Situations do tend to repeat themselves and it is advisable to examine previous outcomes to see how the standard of the reasonable person should be applied, and that lessons can be learned from the errors of the past.
Silver Gate Banks Position : Silver Gate Bank has continued to refuse to take any responsibility for its part in enabling this crime.
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| 12/07/2022 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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- Other transaction problem
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Web |
Older American, Servicemember |
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On XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX, I wire transferred a total of {$13000.00} to who I thought was my attorney. I soon learned it was a fraudster-controlled client account with Silvergate bank in XXXX. I immediately notified my bank, XXXX XXXX to recall the wires, but Silvergate says there are no funds and they are not accepting any responsibility for the cyber attack. I have called and sent multiple emails to their Fraud department asking Silvergate bank where my funds went because my attorney did not receive anything. As we now know, it was NOT my attorney, but a client of Silvergate who posed as my attorney. Silvergate needs to accept responsibility. Nothing on the account was real except the bank name, account number and XXXX number. Everything else was false. I am out {$13000.00} because Silvergate bank which deals with XXXX companies and cyrptocurrency is allowing criminals to hide behind their cloak of protection. I am a XXXX XXXX XXXX woman who doesn't even know what XXXX and cyrptocurrency are. I would like to report Silvergate Bank with violating terms of Federal Reserve laws as well as Computer Fraud and Abuse Act. Appreciate any help you can provide, thank you.
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| 11/17/2022 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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Web |
Older American |
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On XX/XX/22 I did a bank wire transfer on {$19000.00} for the purchase of a XXXX XXXX XXXX XXXX XXXX XXXX motor home. The seller was XXXX XXXX from XXXX, CO. The motor home was advertised on XXXX XXXX and XXXX. Her XXXX user ID is XXXX. I purchased the motor home off of XXXX. The money was wired to Silvergate Bank, XXXX XXXX, CAXXXX XXXX XXXX XXXX XXXXXXXX. Beneficiary name XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. I contacted XXXX and they had no record of my purchase. The XXXX page I was forwarded to looked exactly like XXXX, with purchase confirmation number and tracking. My {$19000.00} is gone! I am XXXX XXXX XXXX and need help getting my money back! Please help!
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| 10/11/2022 |
Yes |
- Money transfer, virtual currency, or money service
- International money transfer
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Web |
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On the XXXX of XXXX, XXXX, I wire transferred {$3000.00} ( XXXX XXXX XXXX ) from my account at XXXXXXXX XXXX XXXX, XXXX, to Silvergate Bank in favor of XXXX XXXXt account where my son has an account. The intention was to purchase crypto currency with the money. XXXXXXXX XXXX confirmed the transfer by swift message. However, the money has never made it to XXXX XXXX account to fund my son 's account. I contacted XXXX XXXX via email and they confirmed that no money was received. I wrote an email to Silvergate Bank on the XXXX of XXXX, XXXXXXXX, and I have still not received a repky.
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| 12/22/2022 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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- Money was not available when promised
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Web |
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Initiated an XXXX XXXX withdrawal on XXXX ( {$25000.00} ), XXXX ( {$25000.00} ) and XX/XX/10 ( {$10000.00} ) from XXXX which uses Silvergate bank as the XXXX for omnibus cash in USD. The XXXX withdrawals were all debited from my account on XXXX and processed with silvergate within seconds. Nothing has shown up in my bank account. Was told that XXXX transfers take anywhere between XXXX XXXX XXXX
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| 03/30/2023 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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- Money was not available when promised
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Web |
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| 03/15/2023 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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Web |
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| 02/27/2023 |
Yes |
- Checking or savings account
- Checking account
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- Managing an account
- Problem making or receiving payments
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Web |
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| 02/02/2023 |
Yes |
- Money transfer, virtual currency, or money service
- Virtual currency
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Phone |
Older American, Servicemember |
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| 01/18/2023 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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- Money was not available when promised
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Web |
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| 01/03/2023 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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- Money was not available when promised
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Web |
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| 01/02/2023 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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- Money was not available when promised
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Web |
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| 01/02/2023 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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- Money was not available when promised
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Web |
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| 12/27/2022 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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- Money was not available when promised
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Web |
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| 12/22/2022 |
Yes |
- Checking or savings account
- Checking account
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- Managing an account
- Deposits and withdrawals
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Web |
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| 12/16/2022 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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- Money was not available when promised
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Web |
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| 12/14/2022 |
Yes |
- Money transfer, virtual currency, or money service
- International money transfer
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- Other transaction problem
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Web |
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| 12/10/2022 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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- Money was not available when promised
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Web |
Older American |
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| 12/10/2022 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
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- Money was not available when promised
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Web |
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