Before Synapse collapsed, Evolve bank debited customer accounts for more than $25 million, in transactions never authorized by customers, Yotta said.



"Evolve had no right to take this money from customers and never informed Yotta or its customers that it was doing so," according to the lawsuit. "Although Synapse and Evolve purported to report all transactions involving customer funds, they concealed these transactions from Yotta and its customers."

Yotta last week filed a lawsuit against Evolve in the U.S. District Court in the Northern District of California, accusing the bank of having conspired with Synapse to take the missing consumer funds. Yotta said the outcry and confusion over FDIC insurance and whether funds are safe with the app has hurt its business.