Former Hodlnaut CEO charged over false statements on Terra exposure

Singaporean prosecutors have charged former Hodlnaut CEO Zhu Juntao with making false statements related to the Terra/UST collapse. Authorities allege that between May and July 2022, Zhu directed employees to post false information via Telegram and email, claiming the company had no direct exposure to UST and had not incurred any losses. He is also said to have posted similar content on his personal X account. Hodlnaut suspended withdrawals following the Terra collapse in 2022 and is now managed by court-appointed liquidators. Zhu faces a total of six fraud charges, and each charge carries a maximum sentence of 20 years in prison upon conviction.