Hodlnaut faces Singapore police investigation for alleged fraud

Crypto lending platform Hodlnaut is under police investigation in Singapore for alleged fraud and cheating three months after freezing client withdrawals and filing for protection from creditors. This may hinder the firm’s recovery from a series of legal and financial complications. Hodlnaut and its leaders are suspected of making “false representations relating to the company’s exposure to a certain digital token,” according to a police statement on Wednesday. The beleaguered company has seen a series of liquidity crises and legal complications. Earlier in November, it turned out the Singapore-based crypto lender held assets worth $13.1 million.