Crypto Lender Hodlnaut Lost Almost $190 Million in Terra Crash: Report
According to Bloomberg, the report, penned by interim judicial managers appointed by the Singapore High Court, alleged that Hodlnaut’s directors “downplayed the extent of the group’s exposure to Terra/Luna both during the period leading up to and following the Terra/Luna collapse in May 2022”. The Singapore-based firm, founded in 2019, joins the likes of Celsius, Voyager Digital, and Three Arrows Capital, who were also devastated by exposure to the Terra ecosystem and its doomed algorithmic stablecoin UST. The firm shuttered withdrawals in July 2022, citing “recent market conditions” and a focus on stabilizing its liquidity and “preserving assets”.
Source
https://t.me/Terra_Luna_Tron
