Failed Terra token wipes out Hodlnaut, leading to the troubled exchange’s liquidation
The liquidation of Hodlnaut
Bad news, crypto peeps – Singapore exchange Hodlnaut is officially getting liquidated after losing millions in the brutal Luna token crash last year. Oof. 💸
Hodlnaut tried getting creditor protection back in August, but the damage was already done once Terra imploded a few months before.
Now the exchange’s interim managers are pulling the plug. Lights out for Hodlnaut. ⚰️
What will happen to Hodlnaut’s customers?
The company got caught up in all kinds of drama after the crash too. They got sued by the founders of failed hedge fund Three Arrows Capital and almost got bought out by shady holding company OPNX. Yikes!
Unfortunately for Hodlnaut, their potential buyers were all talk and had no cash. With no rescue in sight, the exchange is finally meeting its bitter end.
So pour one out for Hodlnaut folks. The Luna crash continued to drain victims months later. Hodlnaut joins the crypto graveyard – may it rest in pieces. ⚱️
This sad saga is a harsh reminder to lock down those crypto risks, friends. The markets can turn at any time!
