Hodlnaut Directors Warn Employees To Make Withdrawals: States SIJM

Hodlnaut Directors Warn Employees To Make Withdrawals: States SIJM

• SIJM reported that some of the Hodlnaut employees were forewarned to make withdrawals during July.
• An estimated value of $776,292 was withdrawn by employees during July.
• A Twitter user demands the bad actors be put behind bars.

The Singapore Interim Judicial Management (SIJM) reported that some of the employees of crypto-lender, Hodlnaut, were warned to make withdrawals before the company froze withdrawals to all retailers. In particular, it is reported that the director instructed the employees to take their digital assets before the platform halted withdrawals for all retailers.

FatMan, a cryptocurrency, and finance researcher, shared a post on Twitter that revealed this biased action from Hodlnaut directors:

Singapore IJM report indicates that certain Hodlnaut employees were warned to withdraw funds before the withdrawal halt was applied to all other retail investors. The report also confirms that Juntao Zhu and Simon Lee constantly lied about the firm's UST exposure. pic.twitter.com/AuxsXASZzx

— FatMan (@FatManTerra) October 27, 2022

Moreover, according to the information extracted from the company’s base, it is reported that an estimated value of $776,292 was withdrawn by employees during July, just before Hodlnaut froze withdrawal. Notably, the crypto lender froze all withdrawals due to market conditions back in late August.

The crypto Twitter community threw a myriad of arguments. Interestingly, one user who was livid with Hodlnaut’s biased support to their employees stated:

YOU ARE A FRAUD, THIEF, AND SCAMMER! I HOPE YOU GET CAUGHT AND GET WHAT YOU DESERVE! You’re just as bad as Do Kwon!

In another instance one user mentioned on Twitter to not trust a man named Zhu in crypto.

Don't trust a man named Zhu in crypto

— SOYAGMI (@noyagmi) October 27, 2022

Furthermore, one Twitter user who claims to have fore known the propensity of the management to do something of this kind stated:

I reached out to the SIJM earlier and asked they replace current management immediately. Given their propensity to misrepresentation and disregard for the law we can not expect them to collaborate in a meaningful restructuring.

Additionally, another user stated the inconsistencies and all the dirt being dug up shows that they (Hodlnaut) are not truthful to users, and thereby the user demanded justice. On another occasion, a user demanded that the fraudulent actors be put behind bars.

The post Hodlnaut Directors Warn Employees To Make Withdrawals: States SIJM appeared first on Coin Edition.

See original on CoinEdition