Hodlnaut said that it had been not the main topic of an investigation by Singapore POLICE.It offered a listing of events inside the judicial review case.The business paused withdrawals earlier this month which is facing a $193 million financial deficit.
Crypto firm Hodlnaut has announced that it’s not the main topic of an investigation by Singapore POLICE, posting on Twitter a listing of events in its judicial review case.
Dear users, in light on the complexity of the Judicial Review case, we’ve penned a good summary on the sequence of events reflected inside the affidavits here: https://t.co/Qrd1SSdqHs.
Hodlnaut isn’t the main topic of any investigations by Singapore POLICE.
– Hodlnaut (@hodlnautdotcom) August 23, 2022
“…our lawyers told the Singapore Court that…together with Hodlnaut’s affidavits filed in its proceedings contrary to the Singapore Police Force…to be sealed from public access. We’d requested this based on upholding the confidentiality on the SPF’s investigations (specifically certain seizure orders created by the SPF) against Samtrade Custodian.”
The business plans to provide its next update on August 29. Another event would be the Interim Judicial Management application on August 26.
Hodlnaut among others Experiencing Financial Troubles
Like so a great many other crypto platforms, Hodlnaut announced that it could pause withdrawals amid a bottleneck in liquidity. It followed this up just a little over seven days later by laying off 80% of its staff to lessen expenditure.
It joins famous brands Voyager Digital and Celsius Network in these troubles, and 2022 is shaping around be considered a bad year for most of the crypto platforms. There were investigations into many of these companies, and new reports appear to emerge every couple of days.
A Financial Times report said that Celsius lost over $100 million in the Grayscale Bitcoin Trust trade, and the business is undergoing an insider misconduct investigation by Celsius Creditor Committee. Meanwhile, the Celsius token experienced a jump for a short while as social media marketing users attempted a brief squeeze.
For Voyager Digital, the business has received court approval to come back $270 million to customers. Meanwhile, Mark Cuban is sued for the alleged role to advertise the platform.