Crypto lender Hodlnaut reportedly faces police investigation in Singapore
Crypto lending platform Hodlnaut has come under investigation by the Monetary Authority of Singapore (MAS), according to a report by CryptoCoinNews. The regulatory body is said to be probing the company's compliance with regulations, as well as its handling of customer funds.
The news comes after MAS issued a statement regarding crypto lending platforms back in March, where it noted that these firms are not regulated and do not fall under the purview of its supervision. The regulator also warned investors against engaging with such platforms, stating that they are highly speculative and may result in losses for investors who do not understand their risk profile or lack of transparency.