Hodlnaut said it’s working closely with lawyers to stabilize its financial situation, adding “not all your assets are gone” while acknowledging a “difficult financial situation.”
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.
