Hodlnaut
Just when it seemed like cryptocurrency prices were showing some signs of recovery in early August, the industry was hit with another major roadblock. On Monday, Singapore-based crypto lending firm Hodlnaut joined the long list of companies halting its users’ withdrawals. Like many crypto companies in the months before it, Hodlnaut cited “recent market conditions,” as the primary reason for holding onto its users’ money.
Dear users, we regret to inform you that we will be halting withdrawals, token swaps and deposits immediately due to recent market conditions. We have also withdrawn our MAS licence application. Here is our full statement https://t.co/5KfHUBzWsn Our next update will be on 19 Aug.
— Hodlnaut (@hodlnautdotcom) August 8, 2022
In a blog post, Hodlnaut said it halted withdrawals and transactions in order to focus on stabilizing its liquidity and preserve assets. Hodlnaut said it was unable to provide a definitive date for when transaction and withdraws will resume but claimed it would be a, “short process.” That really depends on what your specific definition of “short” is though. Holdout said it will provide another update to its users on Friday, August 19.
