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Singapore Charges Former Hodlnaut CEO Zhu Juntao With Six Fraud Counts

Singapore Charges Former Hodlnaut CEO Zhu Juntao With Six Fraud Counts

According to prosecutors, Zhu Juntao allegedly used Telegram, customer emails, and his X account to make false statements about Hodlnaut’s TerraUSD exposure during the 2022 collapse.

Fact Check
The Singapore Police Force official release (police.gov.sg) directly confirms Zhu Juntao, 36, former CEO of Hodlnaut, was charged on 26 May 2026 with fraud by false representation. Cryptopolitan independently confirms the $317 million Anchor Protocol exposure figure cited in the claim, and Crypto Briefing and Crypto.news corroborate the six counts of fraud relating to false statements about UST/Terra exposure. All key elements of the claim are validated by primary and secondary sources.
Summary

Singapore authorities have charged former Hodlnaut CEO Zhu Juntao with six fraud counts over alleged false statements about Hodlnaut’s exposure to Terra-related investments after the 2022 Terra collapse. Prosecutors said Hodlnaut placed $317 million in user funds into Terra’s Anchor Protocol and lost $189.7 million after TerraUSD collapsed. Authorities allege Zhu instructed staff to publish messages on Telegram and in customer emails claiming Hodlnaut had no direct exposure to the collapse, while the latest report adds that similar statements were also made through Zhu’s X account. The platform later reportedly owed users about $281 million while holding only $88 million in assets. The case is reported to carry a potential prison term of up to 20 years, with a pre-trial conference scheduled for June 2026 in Singapore.

Terms & Concepts
  • TerraUSD (UST): An algorithmic stablecoin tied to the Terra ecosystem that collapsed in 2022, contributing to major losses across the crypto market.
  • Anchor Protocol: A Terra-based decentralized finance platform where users could deposit digital assets to earn yield; Hodlnaut reportedly placed customer funds there.
  • X: The social media platform formerly known as Twitter, used by companies and executives to publish public statements and updates.