Crypto Lender Vauld Receives Creditor Protection Extension

The Peter Thiel-backed firm now has till Jan. 20 to work on a restructuring plan.

AccessTimeIconNov 11, 2022 at 1:10 p.m. UTC
Updated May 9, 2023 at 4:02 a.m. UTC
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Troubled cryptocurrency lender Vauld has received an extension on its creditor protection program, the firm said on Friday.

The lender backed by PayPal (PYPL) co-founder Peter Thiel had filed for creditor protection in Singapore earlier this year. The firm received an extension until Jan. 20 and said that it has been working on a restructuring plan.

According to an affidavit on July 8, the company owed $402 million to its creditors, with 90% of that debt originating from individual retail investor deposits.

Indian authorities had frozen assets worth 3.7 billion rupees ($46.4 million) of the company, a month after Vauld filed for creditor protection.


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Parikshit Mishra

Parikshit Mishra is CoinDesk's Deputy Managing Editor responsible for breaking news coverage. He does not have any crypto holdings.

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