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Crypto lender Hodlnaut seeks creditor protection in Singapore

Bloomberg
Bloomberg8/16/2022 07:20 PM GMT+08  • 2 min read
Crypto lender Hodlnaut seeks creditor protection in Singapore
Hodlnaut said it would provide another update on Aug 19. Photo: Bloomberg
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Cryptocurrency lender Hodlnaut, which recently halted withdrawals, filed an application in Singapore to be placed under a form of creditor protection.

The move enables a temporary pause in legal claims and proceedings so that the company can focus on a recovery plan and rehabilitation, Hodlnaut said in a statement on its website Tuesday. It said it filed the application for the so-called judicial management with the Singapore High Court as of Aug 13.

Hodlnaut said it’s working closely with lawyers to stabilize its financial situation, adding “not all your assets are gone” while acknowledging a “difficult financial situation.”

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