Altura CEO: Deciding to Orderly Close Altura Vault Due to Surge in Withdrawals

Odaily Odaily News: Altura CEO Ranveer posted on platform X, stating that over the past 24 hours, Altura has experienced an unprecedented scale of redemption requests and has successfully processed over 8.5 million USDT in instant redemptions. Given the ongoing redemption demand and current market sentiment, the platform has decided to initiate an orderly liquidation of the Altura vault, prioritizing user fund safety and completing all redemptions in a fair, transparent, and efficient manner.

The platform has notified all counterparties and partners and has begun closing positions in its investment portfolio, including exchange holdings, private credit opportunities, and real-world asset strategies. Some positions can be redeemed instantly, while others must follow standard settlement and redemption cycles. The platform is working closely with all counterparties to accelerate the process as much as possible.

Ranveer stated that the liquidation is progressing in a structured manner, with funds being gradually returned to users as underlying positions are redeemed. The team is continuing to process redemption requests over the weekend and maintaining communication with partners and users.