Hodlnaut’s managers file to wind up crypto platform

INTERIM judicial managers of crypto platform Hodlnaut have applied to the High Court on May 22 to wind up the company.

The application will be heard on Aug 7; creditors or company contributors supporting or opposing the application may appear in court to be heard.

This marks a potential end of the road for the embattled crypto-lending platform, about a year since it applied for judicial management.

A last-ditch attempt to sell the business was proposed by founders Simon Lee and Zhu Juntao, with potential buyers interested in the company earlier this year. But key creditors rejected the proposal, preferring to liquidate the company.

The Commercial Affairs Department has also launched an investigation into Hodlnaut and its directors in November 2022 over possible cheating and fraud offences.