Hodlnaut
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anchored·4sUJe2…UMihSummary
Hodlnaut was a Singapore-based cryptocurrency lending platform founded in 2019 by Zhu Juntao and Simon Lee that suspended all withdrawals in August 2022 after suffering an estimated $189.7 million in losses tied to undisclosed exposure to the Terra/UST ecosystem. Company directors allegedly misled regulators and users about the extent of their Terra exposure in the weeks following the May 2022 collapse, and over 1,000 financial documents were deleted to obstruct judicial managers. The Singapore High Court ordered the platform wound up in November 2023, and former CEO Zhu Juntao was charged with six counts of fraud by false representation in May 2026.
Connected Entities
7 entities · 60 linked investigations- Voyager Digital→mentioned with→Celsius Network(75%)
- Three Arrows Capital→mentioned with→Celsius Network(80%)
- Three Arrows Capital→mentioned with→Terra/Luna(75%)
- Hodlnaut→mentioned with→Terra/Luna(70%)
- Celsius Network→mentioned with→Anchor Protocol(80%)
- Celsius Network→mentioned with→Voyager Digital(80%)
- Celsius Network→mentioned with→Three Arrows Capital(80%)
- Hodlnaut→mentioned with→Anchor Protocol(80%)
- Hodlnaut→mentioned with→Voyager Digital(80%)
- Hodlnaut→mentioned with→Three Arrows Capital(80%)
- + 10 more
Connected Through
6 shared actors · 73 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Terra/Lunaorganization
- □Three Arrows Capitalorganization
- □Celsius Networkorganization
- ⌂Anchor Protocolprotocol
Timeline(15 events)
2019
Hodlnaut founded in Singapore by Zhu Juntao (CEO) and Simon Lee (CTO) as a crypto lending and interest-bearing deposit platform.
Wikipedia / Antler3 February 2021
Crowe Singapore validates approximately $106 million in crypto assets held by Hodlnaut.
Wikipedia15 March 2022
Hodlnaut receives in-principle approval from MAS for a Major Payment Institution licence for token swap services.
Street Insider / PRNewswireMay 2022
TerraUSD (UST) algorithmic stablecoin loses its $1 peg and collapses to approximately $0.02, triggering approximately $189.7 million in losses on Hodlnaut's Anchor Protocol positions.
CryptoPotatoMay 2022
Alleged: Zhu Juntao begins directing employees to post false statements in official Telegram channels and customer emails claiming Hodlnaut had no direct exposure to UST.
Singapore Police Force press releaseJune 2022
Alleged: Zhu Juntao publishes three posts on his personal Twitter/X account claiming Hodlnaut had no exposure to UST losses.
Singapore Police Force press release8 August 2022
Hodlnaut suspends all withdrawals, deposits, and token swaps citing 'difficult market conditions' and withdraws its MAS licence application.
CoinDesk13 August 2022
Hodlnaut files for judicial management protection with the Singapore High Court.
Fintech Singapore19 August 2022
Hodlnaut discloses it owes approximately S$391 million (~$281 million) to users while holding only approximately S$122 million (~$88 million) in assets; 80% of workforce laid off.
Wikipedia / CoinDesk29 August 2022
Singapore High Court (Justice Aedit Abdullah) places Hodlnaut under interim judicial management; Angela Ee and Aaron Loh of EY Corporate Advisors appointed as interim judicial managers.
CoinDeskNovember 2022
EY judicial managers' court report reveals that over 1,000 documents were deleted from Hodlnaut's Google Workspace after their appointment; founders described as uncooperative.
BeInCrypto24 November 2022
Singapore Police Force's Commercial Affairs Department announces a formal fraud and cheating investigation into Hodlnaut and its directors.
CoinDesk13 January 2023
Major creditors including the Algorand Foundation reject Hodlnaut's restructuring plan and call for liquidation.
CoinDesk10 November 2023
Singapore High Court issues formal winding-up order for Hodlnaut; Aaron Lee and Angela Ee appointed joint liquidators; more than 17,000 creditors registered.
CoinDesk26 May 2026
Singapore Police Force charges former CEO Zhu Juntao with six counts of fraud by false representation under Section 424A of the Penal Code 1871; Zhu disputes all charges.
Singapore Police Force (official)Decision Log
- slot 423161027 · hash HUS4VkqnL53GkVzBjMGa54AFQjsxMCYE2aGA5C77NhEf
This investigation is cryptographically anchored to the Solana blockchain (1 decision). 15 of 19 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-5
generated: 5/30/2026, 12:58:52 PM
last updated: 5/30/2026, 12:58:52 PM
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