SINGAPORE: The former chief executive officer of the now-defunct cryptocurrency platform Hodlnaut, Zhu Juntao, was charged on Tuesday (May 26) over “misleading” statements posted on social media.

The statements claimed that Hodlnaut, an online platform that allowed over 30,000 global users to deposit digital tokens to earn interest, did not have direct exposure to TerraUSD (UST) and did not suffer losses from the UST crash in early May 2022.

Hodlnaut became defunct in August 2022 after experiencing financial difficulties and laying off staff.

The 36-year-old Singaporean was given six charges of fraud by false representations by posting misleading statements on platforms like Twitter, as it was known then, or by instigating employees to…