Zhu Juntao, the former CEO of Singapore-based crypto lender Hodlnaut, has been charged with six counts of fraud related to misleading customers about the company's exposure to the TerraUSD collapse in 2022. Authorities allege that Zhu directed employees to publish false statements on Telegram and in customer emails, claiming Hodlnaut had no direct exposure to the collapse. The fraud led to significant losses for the company, which had channeled approximately $317 million of user funds into Terra's Anchor Protocol, resulting in an estimated loss of $189.7 million. If convicted, Zhu faces a potential sentence of up to 20 years in prison for each charge. The charges come nearly four years after Hodlnaut froze withdrawals, following the collapse of the TerraUSD ecosystem, which erased around $40 billion from the crypto market. The company, founded in 2019, served over 30,000 users before its eventual liquidation.