Algorand Foundation threatened to return through the court $35 Milln with Hodlnaaut cryptocreat – Bits Media

Algorand Foundation has accused Hodlnaaut, An experiencing bankruptcy procedure, in non -payment of short -term deposits.

Algorand Foundation, that the Singapore cryptocurrency platform Hodlnaut owed her Steblcoins USD Coin (USDC) on $35 million. The company said, that I intend to go to court, if the debt is not repaid.

“The fund uses all legal protection funds for the age of assets and will continue to do this until then, until the money is returned ", - claims Algorand Foundation.

Algorand Foundation invests part of excess capital to make a profit for the development of its own ecosystem. According to representatives of the cryptocredor of Hodlnaut, Now the platform should be Algorand Foundation less 3% aggregate assets.

The Algorand Foundation team approves, that the situation does not entail operating risks and will not cause "liquidity problems". The main debt is placed in short -term deposits.

The fund cannot withdraw its assets from 8 August, когда лендинговая платформа Hodlnaut приостановила вывод любых средств и операции с токенами.

Hodlnaut appealed to the Supreme Court of Singapore with a passage of the provision of judicial protection of the company's assets 16 August, Immediately after the application for suspension of withdrawal of funds. The decision was positioned as a method to avoid forced elimination of user assets in BTC and ETH. To reduce costs, the company reduced 80% your staff.