🌐Singapore-based cryptocurrency lender Hodlnaut will be liquidated, according to the company's former interim justice managers, Aaron Lee and Angela Ee.

The closure order was filed on November 10 with the Singapore High Court. The liquidator will continue to provide updates to the exchange's creditors, which number more than 17,000.

Hodlnaut filed for creditor protection last August after suffering approximately $189 million in losses from exposure to the Terra ecosystem, which collapsed in May 2022.

The lender also had $13.3 million worth of crypto locked up with FTX before the exchange froze withdrawals and ultimately filed for bankruptcy last November.

Holdnaut's creditors rejected a restructuring plan earlier this year and opted for liquidation because it would be more beneficial to their interests.

Aaron Lee and Angela Ee have now been appointed as liquidators of Hodlnaut, which will be wound up under the Insolvency, Restructuring and Dissolution Act 2018. The winding up application was submitted in May this year and approved on Friday.

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