Hodlnaut Halts Withdrawals

Hodlnaut has now joined the ever-expanding list of crypto lenders ceasing withdrawals. In an email to account holders overnight, Hodlnaut said:

“We regret to inform you that we will be halting withdrawals, token swaps and deposits with immediate effect. We have reached this difficult decision due to recent market conditions.

We understand that this is disappointing news and understand its impact on you. We would like to reassure you that this difficult decision was taken for us to focus on stabilising our liquidity and preserving assets, while we work to find the best way to protect our users’ long-term interests. We sincerely apologise for the inconvenience that this has caused you.

We would also like to inform our users that, as a result of the above reasons, we have since withdrawn our licence application with the MAS. Hodlnaut is therefore no longer providing regulated digital payment token (DPT) services, ie our token swap feature.

We are actively working on the recovery plan that we hope to provide updates and details on as soon as permissible. We are consulting with Damodara Ong LLC on the feasibility and timelines of our intended execution plan and are strategising our recovery plan with our users’ best interests in mind.

We want to address all user queries as they come in and therefore would like to focus our communication channels to email ([email protected]), Twitter (@hodlnautdotcom) and Hodlnaut Telegram (https://t.me/hodlnaut). All other social media platforms will be turned off to allow us to consolidate our efforts and give accurate information promptly.

Here is our full statement, which includes a useful FAQ. https://www.hodlnaut.com/press/hodlnaut-message-to-our-users

For any further enquiries, please email us at [email protected], and we will respond soon. We seek your patience and understanding if you receive a delayed response. We will continuously add updates to https://www.hodlnaut.com/blog/news alongside regular email updates to our users.

We are immensely grateful to all of our users, past or present, for your continued support over these 3 years. We wish that the situation was different, but we are determined to find the best possible outcome for our users and will keep our valued users informed every step of the way. Our next update will be on Friday, 19 August 2022.”

More news on this breaking story to follow.