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Singapore charges ex-Hodlnaut CEO over Terra collapse
CoinDesk·
Singapore has charged Zhu Juntao, the former CEO of collapsed crypto lender Hodlnaut, with six fraud offenses. The charges stem from allegations that Zhu misled customers about the firm's exposure to the TerraUSD collapse in 2022. Prosecutors claim Zhu directed staff to falsely state on Telegram and in customer emails that Hodlnaut had no direct exposure to the TerraUSD implosion and had not suffered losses. Authorities also allege Zhu made similar false claims on his personal X account. If convicted, Zhu faces significant prison time and fines.
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