Former Hodlnaut CEO Charged with Six Counts of Fraud Following $189.7M UST Collapse

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 27 2026

IMX-3.413%

LUNA-1.328%

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Fraud Charges: Zhu Juntao, the former CEO of Hodlnaut, faces six fraud charges from Singapore police, alleging he directed employees to disseminate misleading statements in 2022 claiming the platform was unaffected by the TerraUSD collapse; if convicted, he could face up to 20 years in prison.
Legal Proceedings: Zhu has denied all allegations in court, with a preliminary trial set for June 2026, indicating a lengthy legal process that could impact Hodlnaut's liquidation and user compensation efforts.
Platform Collapse Background: Hodlnaut was severely impacted by the May 2022 collapse of TerraUSD, suffering losses of approximately $189.7 million, leading to the company's bankruptcy and freezing funds for over 30,000 users, resulting in significant repercussions.
Internal Management Failures: Court-appointed administrators revealed that Hodlnaut directed around $317 million of user funds into Terra's Anchor Protocol, which promised up to 19.5% annual returns, but its value plummeted to near zero post-collapse, highlighting poor internal record-keeping.

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Technical Analysis for IMX

Technical Sentiment Analysis for Immutable (IMX). As of , Immutable (IMX) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for IMX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, IMX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Immutable (IMX) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0932	0.106	0.123	0.136	0.153	0.166	0.183
Fibonacci	0.106	0.118	0.125	0.136	0.148	0.155	0.166

About IMX

Immutable positions itself as the first layer-two scaling solution for NFTs on Ethereum. According to Immutable, its blockchain does away with Ethereum’s limitations like low scalability, a poor user experience, illiquidity, and a slow developer experience. Instead, users benefit from instant trading and massive scalability while enjoying zero gas fees for minting and trading NFTs without compromising user or asset security.Thanks to this technology, users will be able to create and distribute assets like ERC-20 and ERC-721 tokens on a massive scale. Chris Clay, the game Director of Gods Unchained, a project already building on Immutable, stated that Immutable allows Gods Unchained to implement a new meta-system that was previously impossible. In this fashion, Immutable aims to create a world-class experience for users and developers alike.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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