There was no interest on Yotta accounts. Originally, when you signed up, you were given a lottery ticket everyday for every 25$ in the account. There was a lottery everyday where you could win up to 25000. Then they switched to games where you essentially gambled with the tickets that were given based on your amount.
I was once a member but pulled the money when interest rates started to rise. I was lucky.
I'll also note, when signing up, I was given the impression this FDIC insured.
Because they said they were, or implied it. I would not have opened a savings account had they not been.
In theory, these people's money isn't gone, it's just misplaced into other banks if I understand correctly...and none of these entities want to pay for a full audit because of cost and probably, liability.
The banks that actually hold the money are FDIC insured, but Yotta is not it seems. The way it's worded it makes it look like Yotta is.