Beleaguered cryptocurrency lender Hodlnaut had downplayed its exposure to the Terra ecosystem and its sister token Luna (CRYPTO: LUNC) created by fugitive Do Kwon in the run-up to and after its crash and had suffered a nearly $190 million loss as it collapsed, according to the findings of an interim judicial managers’ report.
“It appears that the directors had downplayed the extent of the group’s exposure to Terra/Luna both during the period leading up to and following the Terra/Luna collapse in May 2022,” the report states, according to Bloomberg.
