Crypto Lender Hodlnaut Lost Close To $190M In TerraUSD Collapse
The Singapore-based crypto lender has lost close to $190 million, as per reports, due to its exposure to Terra’s algorithmic stablecoin UST. The crypto lender platform had downplayed its exposure to Terra’s stablecoin UST despite the fact that it had suffered a huge loss from the recent wipe-out. This report has been found by interim […]
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According to a report, the embattled crypto lender Hodlnaut saw a significant loss from the Terra blockchain collapse last May. The report notes that Hodlnaut downplayed the company’s exposure to the Terra ecosystem and allegedly lost $190 million from the incident. Report Says Hodlnaut Downplayed Terra Exposure Following the Collapse More than 1,000 deleted documents from the crypto lender Hodlnaut’s Google workspace have shown discrepancies, according to a judicial report discovered by Bloomberg on Oct. 31. The judicial report confirms the court filings published at the....
Eight days ago, the crypto lender Hodlnaut announced that the platform was suspending withdrawals after citing volatile market conditions. This week the company says it is seeking judicial management that aims to “provide the best chance of recovery.”
Hodlnaut Updates Customers — Crypto Lender Asks Singapore High Court for Judicial Management
The crypto lender Hodlnaut is looking for help from the courts so the platform can “avoid a forced liquidation” of the company’s assets. Last week on August 8, 2022, the crypto startup paused....
Hodlnaut, a cryptocurrency lender and borrower based out of Singapore has recently filed an application for judicial management. This shall help the platform restructure its business. A little over a week ago, the crypto platform had suspended its withdrawals, deposits and swaps. It also has frozen user assets on its platform itself. The crypto lender […]
Singapore-based crypto lender Hodlnaut is on the verge of liquidation, according to court filings on November 10. The company, which also operates in Hong Kong, had previously halted withdrawals and sought protection from creditors. However, efforts to save the lender were unsuccessful, leading to the decision to liquidate the company. Hodlnaut Liquidators To Consolidate Creditor […]
Troubled Crypto lender Hodlnaut has laid off 80% of its employees and filed for judicial intervention in Singapore in a bid to decrease costs and stay afloat. On Friday, Hodlnaut, which offers cryptocurrency investment options in approved institutions with interest, disclosed liquidity issues. Hodlnaut confirmed that it ended the employment of approximately 40 individuals “to cut corporate […]