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Ex-Hodlnaut CEO faces 20 years in prison over Terra fallout
May 26, 2026
< 1 min read
by Florence Muchai
for CryptoPolitan
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The Singapore government has indicted the former CEO of Hodlnaut on six fraud charges alleging false representation after the exchange's collapse amid 2022 market volatility. The case, linked to losses from the UST collapse in early May 2022, underscores regulatory and security risks for CEXs and could increase scrutiny and weaken user trust and adoption in crypto and DeFi.
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The government of Singapore has indicted the former CEO of the popular crypto exchange, Hodlnaut, on six charges of fraud. This is due to false representation resulting from the company’s collapse during the market volatility of 2022. The UST collapse in early May 2022 led to losses across the crypto sector. Hodlnaut was not left...
