Cryptocurrencies
Crypto Lender Hodlnaut Seeks Creditor Protection in Singapore
- Hodlnaut says it’s seeking to stabilize financial situation
- Company wants to avoid forced sale of tokens at low prices
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Cryptocurrency lender Hodlnaut, which recently halted withdrawals, filed an application in Singapore to be placed under a form of creditor protection.
The move enables a temporary pause in legal claims and proceedings so that the company can focus on a recovery plan and rehabilitation, Hodlnaut said in a statement on its website Tuesday. It said it filed the application for the so-called judicial management with the Singapore High Court as of Aug. 13.