Hodlnaut, a crypto lending platform that went under due to crypto winter, has been under judicial management since August 2022.
This decision shielded the firm from lawsuits that it would have had to deal with in return for far greater scrutiny from regulators.
Terraform Labs Exposure Was The Main Culprit
According to Hodlnaut’s leadership – who allegedly destroyed several documents indicating the full extent of their exposure to Terraform Labs – the main reason for their fall was the number of assets that they had invested in the latter. As previously reported by CryptoPotato, Hodlnaut had around $190 million invested into UST.
After trying to keep the platform afloat, Hodlnaut management eventually declared insolvency and placed themselves under judicial management, stating from the get-go that they plan to restructure the platform and bring it back.
Unfortunately for them, the crucial element for restructuring, namely fresh funding, failed to materialize.
No Silver Lining
Earl
We współpracy z: https://cryptopotato.com/hodlnaut-creditors-want-liquidation-spurning-managements-restructuring-solution/
