On August 8, the crypto exchange and lending platform Hodlnaut announced that the company has paused withdrawals, token swaps, and deposits. Hodlnaut joins a slew of crypto firms that have frozen withdrawals during the last three months, leaving customers little hope that they will see their funds again. Well before Hodlnaut’s withdrawal pause, the Terra whistleblower called Fatman warned people about Hodlnaut’s alleged issues.
Another crypto exchange and lending platform, called Hodlnaut, has revealed it has suspended all operations including withdrawals, token swaps, and deposits. “Dear users, we regret to inform you that we will be halting withdrawals, token swaps, and deposits immediately due to recent market conditions,” the company tweeted on Monday. We have also withdrawn our MAS license application. Here is our full statement — Our next update will be on [August 19],” Hodlnaut added.
Of course, the crypto community was not pleased with Hodlnaut’s decision and either criticized the platform or made fun of the business and its customers. The “not your keys, not your coins” adage is prominent in Hodlnaut’s Twitter announcement thread. In the blog post the crypto company shared on Twitter it notes that the company is focused on stabilizing “liquidity and preserving assets.”
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