Photo credit: Tech in Asia
Hodlnaut, the Singapore-based crypto exchange that lost millions in the crash of the Luna and Terra tokens, will be liquidated, according to the company’s former interim judicial managers, Aaron Lee and Angela Ee.
Hodlnaut applied for creditor protection in August 2022, three months after Terra collapsed.
On Friday, Lee reported that the High Court of Singapore has discharged the protection order and appointed him and Ee as liquidators. Few other details regarding Hodlnaut, including the value of any remaining assets, were released.
Hodlnaut’s founders, Simon Lee and Zhu Juntao, were actively seeking a white knight to rescue the company. They tried to sell the company to OPNX, a digital asset exchange established by the founders of failed hedge fund Three Arrows Capital.
The interim judicial managers, however, opposed the takeover terms from OPNX, noting that the deal lacked any cash component.
Editing by Terence Lee and Eileen C. Ang
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