Hodlnaut Collapse event

Event · PageRank 0.0000

Overview

Hodlnaut was a Singapore-based crypto lending platform that froze customer withdrawals in August 2022 amid the wider crypto credit crisis. Its interim judicial managers later reported that the firm had lost roughly $189.7 million through exposure to Terra's UST/Anchor Protocol collapse, and that its accounting records had not been properly maintained. Singapore's High Court ordered the company wound up, ending the judicial management phase, with the former interim judicial managers appointed as liquidators. The case became one of the reference points for how Singapore courts treat crypto deposits in insolvency.

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Frequently asked questions

Why did Hodlnaut fail?

Hodlnaut froze withdrawals in August 2022 after suffering large losses; its judicial managers reported roughly $189.7 million of losses tied to the collapse of Terra's UST and the Anchor Protocol, alongside assets trapped on the bankrupt FTX exchange.

What happened to Hodlnaut legally?

The company was first placed under interim judicial management by the Singapore High Court in 2022. The judicial managers later filed for winding up, and the High Court ordered liquidation, with the former interim judicial managers Aaron Loh Cheng Lee and Ee Meng Yen Angela appointed as liquidators.

Did creditors get their money back?

No. Court filings assessed substantial net liabilities and reporting at the time indicated creditors were unlikely to recover anywhere near the full value of their deposits.