Hodlnaut
Summary
Hodlnaut was a Singapore-based cryptocurrency lending platform founded in 2019 by Zhu Juntao and Simon Lee that suspended all withdrawals in August 2022 after suffering an estimated $189.7 million in losses tied to undisclosed exposure to the Terra/UST ecosystem. Company directors allegedly misled regulators and users about the extent of their Terra exposure in the weeks following the May 2022 collapse, and over 1,000 financial documents were deleted to obstruct judicial managers. The Singapore High Court ordered the platform wound up in November 2023, and former CEO Zhu Juntao was charged with six counts of fraud by false representation in May 2026.
Connected Entities
1 entities · 10 linked investigations- + 4 more
Timeline(15 events)
2019-01-01
Hodlnaut founded in Singapore by Zhu Juntao (CEO) and Simon Lee (CTO) as a crypto lending and interest-bearing deposit platform.
Wikipedia / Antler2021-02-03
Crowe Singapore validates approximately $106 million in crypto assets held by Hodlnaut.
Wikipedia2022-03-15
Hodlnaut receives in-principle approval from MAS for a Major Payment Institution licence for token swap services.
Street Insider / PRNewswire2022-05-01
TerraUSD (UST) algorithmic stablecoin loses its $1 peg and collapses to approximately $0.02, triggering approximately $189.7 million in losses on Hodlnaut's Anchor Protocol positions.
CryptoPotato2022-05-01
Alleged: Zhu Juntao begins directing employees to post false statements in official Telegram channels and customer emails claiming Hodlnaut had no direct exposure to UST.
Singapore Police Force press release2022-06-01
Alleged: Zhu Juntao publishes three posts on his personal Twitter/X account claiming Hodlnaut had no exposure to UST losses.
Singapore Police Force press release2022-08-08
Hodlnaut suspends all withdrawals, deposits, and token swaps citing 'difficult market conditions' and withdraws its MAS licence application.
CoinDesk2022-08-13
Hodlnaut files for judicial management protection with the Singapore High Court.
Fintech Singapore2022-08-19
Hodlnaut discloses it owes approximately S$391 million (~$281 million) to users while holding only approximately S$122 million (~$88 million) in assets; 80% of workforce laid off.
Wikipedia / CoinDesk2022-08-29
Singapore High Court (Justice Aedit Abdullah) places Hodlnaut under interim judicial management; Angela Ee and Aaron Loh of EY Corporate Advisors appointed as interim judicial managers.
CoinDesk2022-11-01
EY judicial managers' court report reveals that over 1,000 documents were deleted from Hodlnaut's Google Workspace after their appointment; founders described as uncooperative.
BeInCrypto2022-11-24
Singapore Police Force's Commercial Affairs Department announces a formal fraud and cheating investigation into Hodlnaut and its directors.
CoinDesk2023-01-13
Major creditors including the Algorand Foundation reject Hodlnaut's restructuring plan and call for liquidation.
CoinDesk2023-11-10
Singapore High Court issues formal winding-up order for Hodlnaut; Aaron Lee and Angela Ee appointed joint liquidators; more than 17,000 creditors registered.
CoinDesk2026-05-26
Singapore Police Force charges former CEO Zhu Juntao with six counts of fraud by false representation under Section 424A of the Penal Code 1871; Zhu disputes all charges.
Singapore Police Force (official)Decision Log
- hash: HUS4VkqnL53GkVzBjMGa54AFQjsxMCYE2aGA5C77NhEf
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-5
generated: 5/30/2026, 12:58:52 PM
last updated: 5/30/2026, 12:58:57 PM
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