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Singapore charges former Hodlnaut CEO Zhu Juntao over Terra collapse claims
Key takeaways
- Authorities also alleged Zhu repeated similar claims on his personal X account, then known as Twitter, in three posts in June 2022.
- Zhu disputed all six charges in court and was given a pre-trial conference date in June 2026, according to local media reports.
- Hodlnaut was one of several crypto lenders that failed after the implosion of Terraform Labs’ algorithmic stablecoin ecosystem in May 2022.
The Singapore Police Force said that Zhu faces six charges of fraud by false representation in an announcement on Tuesday. Prosecutors allege Zhu directed employees in 2022 to publish false statements on Hodlnaut’s Telegram channels and in customer emails claiming the company had no direct exposure to TerraUSD’s collapse, and had not suffered losses as a result.
Authorities also alleged Zhu repeated similar claims on his personal X account, then known as Twitter, in three posts in June 2022. If convicted, Zhu could face up to 20 years in prison, fines, or both on each charge under Singapore law.
Zhu disputed all six charges in court and was given a pre-trial conference date in June 2026, according to local media reports.
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