Former Hodlnaut CEO Faces Fraud Charges Over Terra Claims

The former CEO of Hodlnaut, a now-defunct crypto lender, has been charged with six counts of fraud by false representation. The Singapore police made the charges against Zhu Juntao on May 26.

According to the police, the alleged statements were made after Terra's UST collapsed in May 2022. These statements claimed that Hodlnaut had no direct exposure to UST and did not suffer losses from the crash.

The Commercial Affairs Department led the investigation into Hodlnaut, which had more than 30,000 users worldwide before it became defunct in August 2022 following financial difficulties.