Vauld Bankruptcy event

Event · PageRank 0.0000

Overview

Vauld was a Singapore-based crypto lending and trading platform that collapsed during the 2022 crypto credit crisis. On 4 July 2022 it suspended all withdrawals, trading and deposits, and days later it applied to the Singapore High Court for protection from creditors while it attempted to restructure. On 1 August 2022 the court granted a three-month moratorium shielding Vauld from creditor legal proceedings, rather than the six months its lawyers had requested. Vauld owed creditors more than $400 million, the large majority of it retail deposits, and pursued a potential acquisition by Nexo alongside the restructuring.

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Frequently asked questions

When did Vauld halt withdrawals?

Vauld suspended all withdrawals, trading and deposits on 4 July 2022, amid the broader 2022 crypto market downturn.

What protection did the Singapore court grant Vauld?

On 1 August 2022 the Singapore High Court granted Vauld a three-month moratorium preventing creditors from starting or continuing legal proceedings against it. Vauld's lawyers had asked for six months.

How much did Vauld owe?

Vauld owed creditors more than $400 million, with roughly 90% of that coming from individual retail investor deposits.