{"id":70536,"date":"2022-11-24T12:05:46","date_gmt":"2022-11-24T10:05:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70536"},"modified":"2025-09-08T02:51:58","modified_gmt":"2025-09-07T23:51:58","slug":"singapore-police-open-investigation-into-hodlnaut","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/singapore-police-open-investigation-into-hodlnaut\/","title":{"rendered":"Singapore Police Open Investigation Into Hodlnaut"},"content":{"rendered":"

The Singapore Police Force’s Commercial Affairs Department has opened an investigation into the cryptocurrency platform Hodlnaut, reported<\/a> local media, citing the agency’s press release.\u00a0<\/p>\n

Authorities clarified that the company and its leadership are suspected of deception and fraud.<\/p>\n

Since August, the police have received several reports alleging false statements by the directors and the platform regarding the impact on its operations of “specific digital tokens”.<\/p>\n

Authorities urged Hodlnaut’s users who claim to be defrauded to provide documents relating to the platform’s operations and the relevant correspondence.<\/p>\n

On August 8, the Singapore-based crypto company suspended withdrawals<\/a>, swaps and token deposits. Hodlnaut immediately sought court protection from creditors<\/a>.<\/p>\n

The platform also laid off 80% of its staff<\/a> to cut costs.<\/p>\n

The company acknowledged a capital shortfall of $193 million<\/a>. Of this amount almost $190 million<\/a> was linked to losses suffered by the platform as a result of the Terra ecosystem collapse<\/a>.<\/p>\n

Earlier, it emerged that Hodlnaut owed $35 million<\/a> to the Algorand Foundation, a non-profit organization.<\/p>\n

Follow ForkLog’s Bitcoin news on our Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Singapore Police Force’s Commercial Affairs Department has opened an investigation into the Hodlnaut cryptocurrency platform, local media reported, citing the agency’s press release.<\/p>\n","protected":false},"author":1,"featured_media":70537,"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":[2324,1323,946],"class_list":["post-70536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-hodlnaut","tag-investigations","tag-singapore"],"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\/70536","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=70536"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70536\/revisions"}],"predecessor-version":[{"id":70538,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70536\/revisions\/70538"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/70537"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=70536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=70536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=70536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}