Vauld Bankruptcy event
Overview
Vauld, a crypto lending and trading platform headquartered in Singapore, ceased operations during the credit crisis that affected digital assets in 2022. On 4 July 2022 it halted all withdrawals, trading and deposits; shortly thereafter it filed with the Singapore High Court for creditor protection while it sought to restructure. On 1 August 2022 the court imposed a three-month moratorium preventing creditors from initiating legal proceedings against Vauld, a shorter period than the six months its legal team had sought. The platform owed creditors in excess of $400 million, predominantly comprising retail deposits, and concurrently pursued a possible acquisition by Nexo alongside the restructuring process.
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Sources
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Questions on the record
How much did Vauld owe?
Vauld owed creditors over $400 million, with approximately 90% of that sum derived from individual retail investor deposits.