Vauld, a Singapore-based cryptocurrency exchange operating in India, announced in a blog post on July 4 that it has suspended withdrawals.
Singaporean crypto trading and lending platform Vauld wrote in a blog post on July 4th. cash flow problems Therefore, it is stated that it is in a financial crisis and that the crisis does not deepen. stopped all operations explained.
Vauld, in his statement, recently volatile market conditions and financial difficulties of business partners noting the company cash flow is affected stated. In the blog post, the negatives, not affecting shareholders take immediate action on behalf of financial consultants Kroll Pte Limited and law consultants, Cyril Amarchand Mangaldas and Rajah & Tann Singapore LLP announced their commissioning.
Management, in the name of protecting Vauld shareholders, restructuring He explained that they have analyzed all the options, including The company is for the Vauld group of companies with potential investors will also meet A moratorium on Singapore courts stated that they would apply for In a possible restructuring of the moratorium, the company ‘to breathe’ He stated that they think that they can provide enough space for
Within the framework of these regulations, Vauld stated that it has suspended all trading, withdrawal and deposit transactions. In a possible restructuring of this move, to facilitate operations expressed their belief. Indicating that they received help from their financial and legal advisors while making this decision, the management stated that only some of their customers announced that it will make special arrangements to meet margin calls related to secured loans.
In the blog post, it was stated that the developments regarding the process will be shared with the customers on a regular basis. In this process, management take refuge in the understanding and patience of customers He stated that his customers can contact the company.