🚨 YIELD APP HAS ENTERED INSOLVENT LIQUIDATION — July 2, 2024. Yield App suspended all platform activity on June 28, 2024, citing FTX-related portfolio losses. On July 2, 2024, the company formally entered insolvent liquidation. Joint liquidators Stephen Cork and Hadley Chilton (Cork Gully LLP) were appointed to manage claims. DO NOT ATTEMPT TO DEPOSIT FUNDS. If you had funds on Yield App, contact the joint liquidators.
Yield App — What Happened
Yield App was a Seychelles-incorporated digital wealth platform founded in 2020 by Tim Frost, Justin Wright, Jan Strandberg, and Jason Corbett. It offered crypto yield portfolios (up to 11% APY on stablecoins), crypto swaps, and structured products. The platform had over 100,000 users, $4.9M in funding, and an Italian VASP registration.
Despite CEO Tim Frost claiming in November 2022 that Yield App had not been significantly impacted by FTX’s collapse, the firm later revealed it had suffered material losses through third-party hedge fund managers who held Yield App assets on FTX. On June 28, 2024, Yield App suspended all platform activity. On July 2, 2024, it entered insolvent liquidation with joint liquidators appointed from Cork Gully LLP to manage stakeholder claims.
⚡ Bottom Line: Yield App is permanently closed and in liquidation. If you are a former Yield App user with outstanding funds, contact the joint liquidators (Cork Gully LLP) immediately to file a creditor claim. Do not interact with any “Yield App recovery” websites — these are secondary scams targeting victims. For regulated crypto yield alternatives, see YouHodler (licensed Switzerland/Italy/Spain).
