Authorities in Singapore allege the former Hodlnaut chief made misleading statements tied to the Terra ecosystem’s failure, a case that carries a potential prison term of up to 20 years.
Singapore authorities have charged the former chief executive of Hodlnaut, a crypto lending platform, over allegedly misleading claims connected to the collapse of Terra, a failed blockchain ecosystem whose breakdown shook the digital asset market in 2022. The case centers on statements that authorities say were deceptive, and the report states the charge could carry a maximum prison sentence of 20 years. The development highlights continued legal fallout from the Terra collapse, which triggered broad losses across crypto markets and intensified scrutiny of lending platforms and risk disclosures.