MEDIUMVulnerability
Global

Fintech Yotta fined $1 million for Synapse deception

·Source: Finextra

Updated:

Executive Summary

Reverberations from the collapse of US banking-as-a-service vendor Synapse are continuing to be felt, with fintech Yotta facing a financial penalty of $1 million for parking customer funds with Synapse, while falsely maintaining that accounts were insured by the Federal Deposit Insurance Corporation (FDIC).

Analysis

Reverberations from the collapse of US banking-as-a-service vendor Synapse are continuing to be felt, with fintech Yotta facing a financial penalty of $1 million for parking customer funds with Synapse, while falsely maintaining that accounts were insured by the Federal Deposit Insurance Corporation (FDIC).
Source Attribution

Originally published by Finextra on May 21, 2026.

Related Threats

LOWVulnerabilityNEW

CISA to allow researchers to report vulnerabilities to exploited bugs catalog

The Cybersecurity and Infrastructure Security Agency (CISA) announced the creation of a nomination form on Thursday that they said enables “researchers, vendors, and industry partners” to report bugs that need to be added to the Known Exploited Vulnerabilities catalog.

The Record
MEDIUMVulnerabilityNEW

Europe Again Delays Digital Sovereignty Push

<img src="https://ismg-cdn.nyc3.cdn.digitaloceanspaces.com/articles/europe-again-delays-digital-sovereignty-bill-image_small-1-a-31760.jpg" align=right hspace=4><b>The Package Is Either Not Yet Ready or Bumping Up Against American Objections</b><br>Europe for the third time delayed presenting its long-awaited Tech Sovereignty Package, legislation aimed at weaning the continent off American technol

Bank Info Security
MEDIUMVulnerability

Meta settles school district lawsuit claiming addictive design harmed students' mental health

The bellwether lawsuit was the first of at least 1,200 to be brought by a school district against Meta, Snap, YouTube and TikTok for similar alleged harms. The other cases have not yet been tried.

The Record