Singapore Conducts Hodlnaut Investigation With Suspected Fraud
The sources said the corporation and its directors are being investigated by the police department’s white-collar section for charges of cheating and fraud.
The investigation was started on Wednesday as a result of many allegations claiming false claims about the company’s exposure to a particular digital token, according to a statement from the police.
Hodlnaut allegedly lost up to $190 million as a result of the collapse of the Terra environment, and withdrawals were halted in August.
This month’s earlier disclosure by the exchange that it still owns approximately $13.3 million worth of crypto in the now-defunct FTX exchange dealt a further setback to its recovery efforts.
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