简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Hodlnaut, a local cryptocurrency loan, and borrowing platform, and its directors are being investigated by Singapore authorities for suspected cheating and fraud.
According to a news statement issued by Singapore police, the inquiry was launched in response to various claims alleging deceptive representations by the struggling cryptocurrency exchange.
“Multiple allegations were received by the Police between August and November 2022 indicating that Hodlnaut and/or its directors had made misleading claims about the company's exposure to a certain digital coin. Based on these police allegations, the CAD is investigating Hodlnaut and its directors for alleged cheating and fraud charges under Penal Code Sections 417 and 424A ”According to the police,
Hodlnaut's problems were revealed in August, when the site froze all activity, including withdrawals and deposits. The decision was made after the platform apparently lost $189.7 million owing to the Terra ecosystem's collapse.
According to a news statement issued by Singapore police, the inquiry was launched in response to various claims alleging deceptive representations by the struggling cryptocurrency exchange.
Following the Chinese government's ban on the exchange, many bitcoin businesses migrated to Singapore. However, the local industry has lately suffered many setbacks, with some local firms dissolving.
The Monetary Authority of Singapore (MAS) regulates local crypto firms and is currently strengthening rules in the sector. It recently suggested various restrictions, mostly concerning the circulation of stablecoins and the prohibition of retail activity. It even wants to make bitcoin lending services unavailable to individual investors.
Keep an eye out for more cryptocurrency news.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
A 20-year-old fraudster has been charged in the United States with conspiracy to commit wire fraud and money laundering in connection with a large-scale cryptocurrency theft.
A Moroccan trader's encounter with repeated deposit demands and an inability to withdraw funds from Zenstox (VIE Finance Sey Ltd) exposes major concerns with the broker's transparency and highlights the importance of researching platforms before investing.
Binance Connect revamps to enhance fiat-to-crypto integration, offering seamless access to over 100 fiat currencies and 300 cryptocurrencies for Web3 projects, improving user experience.
Five individuals have been sentenced for their involvement in Austria’s largest cryptocurrency fraud, scamming $21.6 million from investors. The lavish lifestyle they funded has shocked many.