Singapore’s white-collar crime investigation unit, the Commercial Affairs Department (CAD), on Wednesday, launched a probe into troubled crypto lender Hodlnaut for “possible cheating and fraud,” according to an official statement. Between August and November, the police received “multiple reports” that Hodlnaut and its directors had made “false representations” about the lender’s exposure to “a certain digital token.” The unnamed token likely refers to Terra’s now-collapsed USTC, formerly known as UST, an algorithmic dollar-pegged stablecoin that rapidly depegged back in May. Decrypt reached out to Singapore’s CAD ... (full story)