• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

Singapore Police investigate lending platform Hodlnaut for alleged fraud

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Lending platform Hodlnaut continues to be investigated by the Singapore police for the reason that it is very likely to have committed fraudulent acts focusing on end users.

Singapore Police investigate lending platform Hodlnaut for alleged fraud

Singapore Police mentioned they have been investigating Hodlnaut and his prime executives for fraud that extra dangers to end users of the platform.

Related articles

What is Jupiter (JUP)?  DEX Aggregator platform on Solana launches nearly 1 million user wallets

What is Jupiter (JUP)? DEX Aggregator platform on Solana launches virtually one million consumer wallets

November 24, 2023
Singapore has issued further regulations to limit cryptocurrency speculation

Singapore has issued even further laws to restrict cryptocurrency speculation

November 23, 2023

NEW: Crypto Lender Hodlnaut’s Legal Troubles Escalate After Singapore Police Launch Investigation Into Possible Fraud https://t.co/NjKFcgwlWL

— Bloomberg Crypto (@crypto) November 24, 2022

In a statement, police mentioned they started investigating Nov. 23 soon after acquiring various allegations that “Hodlnaut was exposed to a very risky token, but miscommunicated it.”

Most very likely the token outlined right here is TerraUSD (UST). Because, as Coinlive reported, Hodlnaut halted trading, deposit and withdrawal operations in early August this 12 months, then filed for judicial management about ten days later on.

Externally, this lending platform communicates that there is no make contact with with the Earth ecosystem. But in actuality, investigators observed that Hodlnaut misplaced $190 million in the collapse of LUNA-UST. Or far more accurately, Hodlnaut also employed consumer dollars to lend to Anchor at a twenty% curiosity price and did not “run.”

Thus, the Singapore Police move even more clarified that Hodlnaut very likely hid his UST publicity, which was “underreported” from end users and traders. This conduct is thought of likely fraud.

Evolution of the liquidity crisis in the cryptocurrency market place

It can be observed that while the collapse of LUNA-UST has passed 6 months, the effect and consequences have not been canceled. Many cryptocurrency providers and tasks hold falling into the spiral of liquidity crisis and it is hard to have a fantastic resolution.

Synthetic currency68

Maybe you are interested:

Maybe you are interested:

Tags: allegedfraudHodlnautInvestigateLendingplatformPoliceSingapore
Share76Tweet47

Related Posts

Institutions Reduce Bitcoin ETF Holdings by 23% Amid Profit-Taking

by shark
June 7, 2025
0

Institutional Bitcoin ETF exposure drops by 23% in Q1 2025 due to strategic profit-taking.

Bitcoin Holders Trigger Key Support Defense Amid Gains

by shark
June 6, 2025
0

Long-term Bitcoin holders initiate sales, challenging bulls at crucial $95,600 support level.

Uber Explores Stablecoin Usage for Global Settlements

by shark
June 6, 2025
0

Uber CEO Dara Khosrowshahi announced the company's interest in exploring stablecoins for global settlements to decrease foreign exchange costs and...

Yuga Labs CEO Proposes ApeCoin DAO Dissolution

by shark
June 6, 2025
0

Greg Solano, CEO of Yuga Labs, proposes dissolving ApeCoin DAO, transferring assets to ApeCo, aiming to boost operational efficiency.

LayerZero CEO Accuses Hyperlane of Wash Trading Manipulation

by shark
June 6, 2025
0

LayerZero's CEO highlights suspected Hyperlane wash trading, impacting token distribution and sparking industry debate.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • Institutions Reduce Bitcoin ETF Holdings by 23% Amid Profit-Taking
  • BlockDAG Surges Past $287.5M as AVAX Cools and XLM Eyes Growth
  • Bitcoin Holders Trigger Key Support Defense Amid Gains
  • Uber Explores Stablecoin Usage for Global Settlements
  • Yuga Labs CEO Proposes ApeCoin DAO Dissolution
  • LayerZero CEO Accuses Hyperlane of Wash Trading Manipulation
  • Coinbase Adds Fartcoin and Subsquid to Listing Roadmap
  • Elon Musk Supports Trump’s Impeachment, Favors JD Vance
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7