The Hodlnaut saga continues with new claims of malfeasance

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Hi readers,

It’s been several months since we wrote our original investigative piece
on Hodlnaut’s exposure to the collapse of the UST stablecoin. At the time, it was a very critical story because the crypto lender was denying any exposure or losses.

Hodlnaut reacted to our stories in a way all too common today: They blocked me on Twitter and Telegram. Whatcha gonna do?

That hasn’t stopped us from covering Hodlnaut’s trip through its court-governed restructuring.

But last week’s release of court papers really went beyond the norm. In such a well-publicized debacle, it’s not surprising that Hodlnaut’s founders and the interim judicial management have engaged in finger-pointing.

What’s surprising is what was claimed in signed affidavits to the court, including: conflicts of interest, “petty” behavior by government officials, and a very pointed accusation that Hodlnaut founder Simon Lee is engaging in a game of CYA.

Even as we write this, new information is being released, including a report that lists all of Hodlnaut’s financials. We’ll keep you updated.

— Scott Shuey, journalist at Tech in Asia

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Image credit: Timmy Loen

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