Singapore's Police Probes Hodlnaut for Potential 'Cheating and Fraud'
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Singapore's police have initiated an investigation against cryptocurrency lending firm Hodlnaut and its directors for potential cheating and fraud offenses, Bloomberg has learned.

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The police said in a statement that the probe is based on multiple reports alleging "false representations relating to the company’s exposure to a certain digital token," without naming the asset.

Crypto Lending Platform Hodlnaut Owes $35M to Algorand Foundation

Earlier in November, interim judicial managers found that Hodlnaut suffered a $190 million loss due to the Terra crash. They noted in a report that Hodlnaut's top management apparently had "downplayed the extent of the group's exposure" to the Terra crash not only during the period leading up to the crash, but also after it.

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