Singapore police have announced that they are investigating crypto lender Hodlnaut and its directors for fraud and deceptive practices.
The Commercial Affairs Department of the Singapore Police Force said it would investigate multiple reports it received between Aug. and Nov. These reports claimed that Hodlnaut and its directors made misleading statements about the company’s exposure to an unnamed digital token.
The police urged any other investors believed to have been defrauded by these “false representations” to come forward. In order to assist with the investigation, petitioners should prepare documents related to their transactions with Hodlnaut. These include records of payment in addition to relevant correspondence with Hodlnaut.
The Fall of Hodlnaut
The investigation comes as the latest woe to befall the beleaguered crypto lender. In Aug., Hodlnaut announced that it was suspending withdrawals, token swaps, and…
