Hodlnaut's Ex-CEO Charged With 6 Fraud Counts Over Terra Stablecoin Claims

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According to Singapore Police, Hodlnaut's former CEO Zhu Juntao was recently charged with 6 counts of fraud by false representation over alleged misleading statements about the platform's exposure to TerraUSD. Police said Zhu allegedly instigated employees to claim in company communications and social media posts between May and July 2022 that Hodlnaut had no direct UST exposure and suffered no losses from the Terra crash. If convicted, Zhu faces up to 20 years in prison, a fine, or both, on each charge.
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