Singapore police charge former Hodlnaut CEO Zhu Juntao with fraud, alleging false statements during Terra collapse

Odaily Odaily Odaily Odaily reports that Singapore police have filed six fraud charges against Zhu Juntao, the former CEO of the now-defunct crypto lending platform Hodlnaut. They allege that during the 2022 TerraUSD collapse, he instructed employees to publish false statements, misleading users into believing that Hodlnaut was not directly exposed to TerraUSD risk and had not suffered losses as a result. The prosecutors stated that the relevant false information was posted on Hodlnaut's Telegram channel, in customer emails, and on Zhu's own X (formerly Twitter) account. Under Singapore law, if convicted, Zhu faces a maximum penalty of 20 years in prison, a fine, or both for each charge. (CoinDesk)