Former Hodlnaut CEO Charged in Singapore Over Terra Collapse Claims
Cointelegraph
Former Hodlnaut CEO Zhu Juntao faces fraud charges in Singapore for allegedly misleading users regarding the company's exposure to the Terra ecosystem crash.Summary
Zhu Juntao, the former CEO of the crypto lending platform Hodlnaut, has been charged in Singapore with six counts of fraud by false representation. Prosecutors allege that Zhu directed employees to issue misleading statements in mid-2022, claiming that Hodlnaut had no direct exposure to the collapsed TerraUSD (UST) stablecoin. These assertions were made via email, Telegram, and social media shortly after the Terra ecosystem imploded, resulting in massive market losses. If convicted on these charges, Zhu could face up to 20 years in prison and significant fines per count.
(Source：Cointelegraph)