Vauld halted withdrawal, trading, and deposit services.
Vauld reported withdrawals amounting to $198 million in the 2nd week of June 2022.
Vauld is a crypto trading platform that provides comprehensive services in lending, borrowing, and trading cryptocurrencies like Bitcoin, tether, Ethereum, and several other cryptocurrencies.
Vauld is a Singapore-based company helping to earn and make a profit on a single interface. Vauld was founded by Sanju Kurian and Darshan Bathija, two Indians, in 2021.
According to media reports of July 3, 2022, Vauld has halted all withdrawal, trading, and deposit services for its users and has constructed an advisory board for potential restructuring.
In an official media release, Vauld chief executive officer Darshan Bathija stated, “The halting process of withdrawal, deposit and trading services is done because of financial issue which is faced due to volatility in the market.”