{"id":69960,"date":"2022-11-11T19:17:55","date_gmt":"2022-11-11T17:17:55","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69960"},"modified":"2025-09-07T23:08:36","modified_gmt":"2025-09-07T20:08:36","slug":"vauld-secures-extension-of-temporary-protection-from-creditors","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/vauld-secures-extension-of-temporary-protection-from-creditors\/","title":{"rendered":"Vauld secures extension of temporary protection from creditors"},"content":{"rendered":"<p>Vauld crypto-lending platform has secured an extension of the moratorium on proceedings until January 20, 2023. <a href=\\\"https:\/\/www.theblock.co\/post\/185858\/vauld-creditor-protection-exntension-january\\\">The Block<\/a> reports.<\/p>\n<p>\\n\\n<\/p>\n<p>The High Court of Singapore did not grant the requested extension \u2014 until March 7. If Vauld applies again for an extension, a hearing will be held on January 17.<\/p>\n<p>\\n\\n<\/p>\n<p>By November 25, 2022, the platform&#8217;s representatives must provide written testimony addressing the issues that have arisen.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cWe aim to ease the difficulties facing our creditors and are working on a restructuring that would serve their interests,\u201d the firm said.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>On July 4, the crypto-lending platform <a href=\"https:\/\/forklog.com\/en\/news\/peter-thiel-backed-crypto-lending-platform-vauld-suspends-operations\">announced a suspension of operations<\/a> and a possible restructuring due to financial difficulties. The next day it emerged that rival <a href=\\\"https:\/\/forklog.news\/smi-nexo-dogovorilsya-o-priobretenii-kriptolendingovoj-platformy-vauld\/\\\" target=\\\"_blank\\\" rel=\\\"noreferrer noopener\\\">Nexo signed a preliminary agreement to acquire Vauld<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>Subsequently, media citing court documents found that Vauld&#8217;s outstanding debt after these events <a href=\"https:\/\/forklog.com\/en\/news\/media-vauld-crypto-lending-platform-owes-402-million-to-creditors\">stood at $402 million<\/a>. Of this, $363 million was owed to retail investors. The firm did not return $34 million to one of them, and more than $10 million to three others.<\/p>\n<p>\\n\\n<\/p>\n<p>The platform&#8217;s troubles began with the Terra collapse \u2014 the $28 million it held in UST staking. The next blow was the broad crypto market downturn \u2014 Vauld held positions in Bitcoin, Ethereum, MATIC and XRP.<\/p>\n<p>\\n\\n<\/p>\n<p>The third factor was defaults by some counterparties, which led to irrecoverable losses of about $1.7 million. The fourth reason for insolvency was spending on sponsorship agreements.<\/p>\n<p>\\n\\n<\/p>\n<p>Earlier, Vauld <a href=\"https:\/\/forklog.com\/en\/news\/vauld-wins-temporary-creditor-protection\">obtained temporary protection<\/a> from creditors \u2014 the court granted the platform a moratorium until November 7.<\/p>\n<p>\\n\\n<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The crypto-lending platform Vauld has secured an extension of the moratorium on proceedings until January 20, 2023. The Block reports.<\/p>\n","protected":false},"author":1,"featured_media":69961,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2227],"class_list":["post-69960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-vauld"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69960","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=69960"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69960\/revisions"}],"predecessor-version":[{"id":69962,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69960\/revisions\/69962"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/69961"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=69960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=69960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=69960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}