Don't Get Caught Next: Dedicated to the Hodlnaut Scam Today, cryptolending Hodlnaut went bankrupt by announcing a withdrawal halt. He also deleted data about the team and the founders of the project from the site. There is also a purge in social networks, no one wants to communicate with extremely dissatisfied users. In short, a scam, although it is officially announced that they are working on a "restructuring and recovery" plan. Hodlnaut, along with Vauld, 3AC, Celsius and Voyager, promised stablecoin returns of 8% per annum, but in fact ruined their clients. The bear market is not over yet and you need to understand what the real risks are behind the promised easy money in CeFi projects. To avoid becoming a victim of the next crypto bankrupt. What happened to Hodlnaut: •Like most lost on LUNA/UST Contributors funds were put into the Anchor protocol in pursuit of huge UST yields. At the time of the collapse of LUNA, they lost millions of dollars, but did not admit their mistake. •Attempt to recoup Hodlnaut denied all rumors about the loss of funds and decided to take the risk by draining UST at $0.4 and going short on CEX exchanges. •It is not us Hodlnaut who did not recognize as our wallets through which we shorted UST, and also banned people in our chats who asked unpleasant questions. Official sources stated that all funds are safe and the project continues to make a profit. ☠ Market Conditions Hodlnaut cited unfavorable market conditions as the reason for today's scam. What are they unfavorable if the market recovers from June 13? That is, either they continued to stand in the shorts and miscalculated. Or their losses in May and June turned out to be so great that it was no longer possible to hide it. In total, Hodlnaut hid the fact of bankruptcy from clients for at least two months, trying to recoup by increasing the risk of their transactions. © CryptoGuru
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Paying the price for my faith in Celsius myself here. Same story I am afraid