Singapore Police Sue Hodlnaut Former CEO Zhu Juntao for Misrepresentation During Terra Collapse

Odaily Planet Daily News Singapore police have filed six fraud charges against Zhu Juntao, former CEO of the defunct crypto lending platform Hodlnaut, alleging that during the 2022 TerraUSD collapse, he instructed employees to issue false statements misleading users into believing that Hodlnaut was not directly exposed to TerraUSD risk and had not suffered losses as a result. Prosecutors stated that the false information was published on Hodlnaut's Telegram channel, customer emails, and Zhu's personal X (formerly Twitter) account. Under Singapore law, if convicted, each charge against Zhu carries a maximum penalty of 20 years in prison, a fine, or both. (CoinDesk)