Hodlnaut Halts Customer Withdrawals, Becomes Latest Exchange To Plunge Into C...
Hodlnaut stopped offering exchange services on its platform on Monday, citing liquidity crisis and the need to discuss a recovery strategy with a legal advisory firm as the industry battles to survive in the wake of a collapse in the price of cryptocurrencies. Hodlnaut Latest To Halt Withdrawals Hodlnaut, a Singapore-based lending platform for crypto […]
Related News
On August 8, the crypto exchange and lending platform Hodlnaut announced that the company has paused withdrawals, token swaps, and deposits. Hodlnaut joins a slew of crypto firms that have frozen withdrawals during the last three months, leaving customers little hope that they will see their funds again. Well before Hodlnaut’s withdrawal pause, the Terra whistleblower called Fatman warned people about Hodlnaut’s alleged issues.
Another Crypto Platform Freezes Operations Citing Recent Market Conditions
Another crypto exchange and lending platform, called Hodlnaut,....
Hodlnaut is one of the latest companies struggling with insolvency issues. The crypto winter of the year gave a terrible blow to several crypto-related firms and service providers. Some tried different approaches that could cut down their expenses. This led some companies to lay off some employees to lower their costs per head. Hodlnaut, the […]
The Singapore-based cryptocurrency exchange Zipmex is the most recent in a line of crypto businesses to halt user withdrawals and transactions “until further notice.” Zipmex Halts Customer Withdrawals In light of the unstable market conditions, the cryptocurrency exchange Zipmex on Wednesday suspended users from withdrawing their cryptocurrencies. The exchange announced the decision on Twitter on […]
The troubled crypto lender Hodlnaut shared another update after the company froze withdrawals on August 8, and then revealed the company is seeking judicial management in order to rehabilitate the startup. The latest update shows that Hodlnaut experienced a shortfall of around $193 million and this past week the company has laid off roughly 80% of the startup’s workforce. Crypto Lender Says ‘Financial Circumstances Are a Result of Losses Suffered by Hodlnaut’s Hong Kong Subsidiary During the Terrausd Crash’ It seems that Hodlnaut lost close to $200 million and....
According to recent reports, cryptocurrency company Genesis has suspended customer withdrawals in its lending unit, adding to the already tumultuous landscape of the digital currency industry. This halt follows the company’s bankruptcy filing earlier this year, triggered by the Gemini exchange’s refusal to facilitate customer withdrawals. The situation has escalated, involving legal intervention and a […]