[Bigiron]

S'pore-based crypto lender Hodlnaut faces police probe, public urged to submit documents

READ: https://str.sg/w9bC

[bobby]

[sgbuffett]

This type of crime is so simple...the surprise is not it occurs but why people so goondu:

1. Platform collects 100M from public
2. Founders quietly siphon off 40M leaving only 60M
3. So long as clients take out some money and leave most of it on the platform, there is no issue.
4. So the theft is not discovered and scam can continue.
5. Often the founders get greedy they steal too much then the platform collapse


All Crypto exchanges are fraud without exception.

The only reason some have not collapsed is because they have not reach step 5.

[p1acebo]

This type of crime is so simple...the surprise is not it occurs but why people so goondu:

1. Platform collects 100M from public
2. Founders quietly siphon off 40M leaving only 60M
3.  So long as clients take out some money and leave most of it on the platform, there is no issue.
4. So the theft is not discovered and scam can continue.
5. Often the founders get greedy they steal too much then the platform collapse


All Crypto exchanges are fraud without exception.

The only reason some have not collapsed is because they have not reach step 5.

Are you saying Temasek ish super goondu too?