Hodlnaut Stakes User Assets on Anchor, Loses ~$190M in Terra Crash

Terra researcher FatMan tweeted that in a new document submitted by the encrypted lending platform Hodlnaut, Hodlnaut SG lent the tokens deposited by its Singaporean users to its Hodlnaut HK, and pledged USTC in the Anchor Protocol through Hodlnaut HK Earn income. Hodlnaut Pte. Ltd. has no direct contact with UST, but the decoupling of UST has indirectly affected HodInaut. When the price of UST was decoupled to 0.85 US dollars, Hodnaut decided to liquidate UST at a loss, resulting in Hodlnaut's actual loss of about 189.7 million US dollars .