Den oroliga kryptolångivaren Hodlnaut delade ytterligare en uppdatering efter att företaget frös uttag i augusti 8, och avslöjade sedan att företaget söker rättslig ledning för att rehabilitera uppstarten. 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.
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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 the company is now looking for assistance and protection from the Singapore High Court. In a judicial management process update published on August 19, Hodlnaut says the company’s Hong Kong subsidiary suffered from the terrausd (UST) krascha. Just då, Hodlnaut claims the terrausd (UST) crash sparked “unusually high volumes of withdrawals.”
After the update was published, the whistleblower Fatman förklarade that the court affidavit that shows the $193 million shortfall also indicates contradictory statements Hodlnaut published after the Terra crash. “In a new filing from Hodlnaut, they admit to [having] had most of their [tillgångar under förvaltning] in UST through their HK defi spin-off entity, and they lost a whopping $190m in the Terra crash,” Fatman said. The whistleblower added:
Trots detta, they continued to tell customers they had zero Anchor exposure.
Hodlnaut Hopes the Company’s Bitcoin and Ethereum Will Not Get Liquidated, Lender Has Not Secured Any Creditors
Hodlnaut hopes the judicial management option will help customers the most and it would “avoid liquidation of Hodlnaut’s holdings of BTC och ETH at today’s depressed prices.” If the company’s holdings are liquidated and sold, “this would mean that all users (whether you have deposited BTC, ETH or stablecoins) would likely only get back a fraction of what was initially deposited.” The crypto lender continued:
We have heard you and understand that some of our users urgently need to access their funds. Som sådan, we are also exploring the option of allowing users to withdraw their initial deposit, with interest accrued in full, at a discounted amount and close their account with Hodlnaut.
The company’s judicial management case will be heard today by the Singapore court and if the startup’s filing is successful, an interim judicial manager will be appointed by the court. Following the court process on Monday, Hodlnaut plans to update the public on Tuesday, augusti 23, 2022.
“The [company’s] founders are in Singapore and working hard on the recovery plan,” Hodlnaut’s blog post explains. Dessutom, Hodlnaut said the company had no exposure to the embattled crypto lender Celsius and as far as securing any creditors, Hodlnaut says the startup does “not have any secured creditors.”
What do you think about Hodlnaut’s latest update? Låt oss veta vad du tycker om detta ämne i kommentarsfältet nedan.
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