The Vauld cryptolending platform supported by Peter Tilan suspended operations

Cryptolending platform Vauld from Singapore announced a possible restructuring. Operations for trade, withdrawal and deposit of funds are suspended.

Management explained the decision by financial difficulties due to an unfavorable situation, the influence of counterparty problems and the outflow of liquidity. From June 12, customers deduced $ 197.7 million from the platform.

To implement the initiative, the startup hired Kroll Pte Limited as a financial consultant, as well as law firms Cyril Amarchand Mangaldas and Rajah & Tann Singapore.

Vauld will consider all possible options, including restructuring, which will best protect the interests of interested parties. The company began negotiations with potential investors and intends to receive a moratorium on the trial in Singapore in Singapore.

Recall that in July 2021, Vauld attracted $ The WAGMI crypto 25 million from the Valar Ventures co -founder PayPal Peter Til and other investors.

At the end of 2020, the startup supported Coinbase Ventures and Pantera Capital in the round of $ 2 million.

Previously, Voyager Cryptoberace announced the suspension of trade and withdrawal of funds. The Head Fund Three Arrows Capital filed a bankruptcy application.

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