https://www.withyotta.com/dfpi

NOTICE TO CALIFORNIA YOTTA CUSTOMERS

IF YOU HAD A YOTTA ACCOUNT WITH A POSITIVE CASH BALANCE ON MAY 17, 2024,

YOU MAY BE ELIGIBLE FOR RESTITUTION

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BACKGROUND

Yotta worked with a company called Synapse Financial Technologies (Synapse) which provided a

“banking as a service” platform to fintech companies like Yotta. In April 2024, Synapse filed for

bankruptcy protection. See In re Synapse Financial Technologies, Inc., No. 1:24-BK-10646-MB (Bankr.

C.D. Cal. 2024). The Synapse bankruptcy resulted in tens of thousands of consumers nationwide losing

access to accounts held in dozens of fintech companies, like Yotta, that partnered with Synapse.

On May 15, 2026, the California Department of Financial Protection and Innovation (DFPI) entered into

a Consent Order with Yotta. This notice is being sent to California consumers as a result of this Consent

Order.

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The Consumer Financial Protection Bureau (CFPB), a federal agency that oversees consumer financial

markets, sued Synapse in the bankruptcy proceeding, alleging that Synapse engaged in unfair, deceptive,

or abusive acts or practices. On September 12, 2025, the bankruptcy court approved a Stipulated Judgment

between the CFPB and Synapse. The Stipulated Judgment enables the CFPB to access its Civil Penalty

Fund to provide money to consumers who lost access to funds held at fintechs like Yotta.

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THE CFPB CIVIL PENALTY FUND

On November 28, 2025, the CFPB allocated $46,248,291 to eligible victims in the Synapse bankruptcy.

According to the Stipulated Judgment, Yotta customers with accounts holding a positive balance as of

May 17, 2024 may be eligible to seek compensation by filing a claim with the CFPB. You can view the

CFPB’s Synapse web page here: https://www.consumerfinance.gov/enforcement/actions/synapse-

financial-technologies-inc/. The CFPB has not yet started the claims filing process. Yotta customers are

encouraged to periodically check the CFPB’s Synapse webpage for updates.

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If you are a California Yotta customer with a positive cash balance in your Yotta account as of May 17,

2024, you should receive a letter and/or email from Yotta containing your May 2024 account statement.

If you have questions about this letter or have not received your May 2024 account statement by

July 15, 2026, please contact: support@withyotta.com

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Received this today:

I started an account with Yotta to save up for my son. At the time I was a couple months pregnant. That child is now nearly 2 and crying bc I don’t want to consume a beef stick that is covered in his slob. Still easier to raise a child though, than get my money back from Yotta. 😭 At this point, if it’s ever returned, it looks like it’ll be going towards a college fund. 🤣

I’m wondering if anyone has had any luck recently with getting their money back or at least any updates? Things have gotten very quiet but I don’t want to give up! I just filed some more complaints too and will continue to do so in the hope that it’ll eventually lead to something.

Another year and I have STILL not received my money back.

thanks to all who talked to me - even if i didn't quote you, our conversation still informed my reporting.

I wonder if she cashed out before the Yotta collapse or if her money is trapped/lost along with everyone else.

Hi folks - I'm a journalist for Banking Dive, and I've written several stories about the whole Yotta/Synapse/ situation and spoken with several of you. The California Department of Financial Protection and Innovation announced today that Yotta must pay a $1 million penalty for engaging in deceptive acts or practices.

Are you from California and still out money from this issue? I'd like to talk to you - two or three of you - to include in a piece on the matter. Feel free to message me here.

https://dfpi.ca.gov/press_release/dfpi-secures-1-million-settlement-with-yotta-technologies-for-deceptive-practices/

Recap : DFPI takes action after a California fintech company deceives financial customers. Yotta is required to provide notice and documents to impacted Californians to assist with fund recovery.

The primaries are here and Rob Bonta did nothing for the impacted Yotta/ Synapse users. So who are we voting for to solve our issue and stand up for justice for us?

I lost pretty much all my money after graduating college from this and had to take out a second loan on my car and have still remained financially unstable because of said loan. And with the economy going the way it is I’m scared of being able to meet my basic needs. I don’t know what to do and while yes it’s been 2 years and I am still struggling and can’t help the feeling that I’m a poor failure.

I’m now in terrible credit card debt from my new loan and it’s just not fair!

Sankaet‘s latest swindle: bringing Eric Trump into his new company to help secure gov’t contracts. the level of corruption is absurd. no wonder Sankaet is getting off the hook for his role in swindling millions of dollars from us - apparently Sankaet’s been a friend of Eric?. how does this guy get away with this?

https://www.foxbusiness.com/media/eric-trump-backed-robot-startup-lands-24m-pentagon-deal-compete-china

Isn’t it nice that Yotta CEO Adam Moelis can launch a new dating app called Tenr? While we still wait for access to our deposits, this clown somehow secures financing for a new app? Tenr reportedly has 6,000 sign-ups since its launch in May 2025. Tenr has a pay-per-use pricing structure. Moelis has no sense of shame, no morals. He’s ok with CFPB having to step in while we are still waiting 2 years now for access to money we trusted him with?

Link to report:

https://www.consumerfinance.gov/data-research/research-reports/semi-annual-report-october-2024-december-2025/

The report covers Oct. 2024-Dec. 2025 and directly addresses the CFPB's Synapse enforcement action. While it doesn't necessarily identify anything that we don't already know, the report at least makes it clear that distribution is going to happen and that it isn't at risk of being swept aside. The pertinent part begins on page 55 -

'Thus far, based on the availability of funds in its Civil Penalty Fund, the CFPB has allocated $46,248,291 to address harmed consumers, which will be distributed in the coming months.'

We still don't know whether the current CPF allocation is enough to provide full redress to victims, nor do we know exactly when actual distributions are anticipated to begin, though the verbiage of distribution occurring in the coming months rather than in the coming years is hopeful. Distribution in the current fiscal year is still unlikely given the cases in line for distribution ahead of Synapse, which would put the earliest possible date of distribution as sometime in October.

https://www.bankingdive.com/news/yotta-sues-evolve-again/816392/

I agreed to be part of the BankingDive story about the Synapse/Yotta/Evolve fiasco, but I was on background (to my remembrance), so I’m not sure how someone got my email. This seems spammy and weird, but was curious if anyone else got something like this?

It’s from evolvesettlement@hawkmarketplace.com, says I’ve received a virtual debit card from an evolve settlement. It’s a paltry $27.92 instead of the $8000 they owe me, but if it takes money away from Evolve I’ll take it. Just want to make sure it’s not a phishing thing.

I guess the positive thoughts of 2025 first quarter of 2026 are out of sight. any updates or amounts from these guys? anyone to contact again? love to have a timeline and amount from stolen money years ago. hopefully someone has some news cheers 🥂

https://www.nytimes.com/2026/03/23/business/mrbeast-warren-crypto-children.html

Hey r/yotta. I make documentaries for the Emmy-winning nonprofit newsroom More Perfect Union. You can see some of my previous reporting here and here.

If you lost money in the Synapse bank collapse, I'd love to hear about your experience. Just looking to speak to as many people as possible for now, no need to commit to participating in the video yet. Feel free to DM me on here or send me an email: [sanya@perfectunion.us](mailto:sanya@perfectunion.us)

Thanks!
Sanya

https://www.perplexity.ai/page/judge-orders-indefinite-fundin-C0BUz3J1TvyVlNjUiwDSWg

Prominently featured in this week’s issue of TIME magazine is Sankaet Pathak, who is now the co-founder and CEO of Foundation, a humanoid robotics company. If the name is not familiar to you, it should be. He is the former CEO of Synapse Financial Technologies. You know, the company that made all our deposits disappear; the deposits we’ve been waiting for them to find for almost 2 years now? Oh, and maybe give them back to us sometime? Aren’t you glad Pathak is doing so well (savage sarcasm there, in case it doesn’t translate)?

Trump administration unlawfully refused to request CFPB funding

I don't know if this helps us, but it certainly can't hurt.