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Finance

Crypto Lender Vauld Receives Creditor Protection Extension

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

By Parikshit Mishra
AccessTimeIconNov 11, 2022 at 1:10 p.m. UTC
Updated May 9, 2023 at 4:02 a.m. UTC
Singapore-based Vauld now has protection from its creditor until Jan. 20. (Shutterstock)
Singapore-based Vauld now has protection from its creditor until Jan. 20. (Shutterstock)
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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.

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    • 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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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Parikshit Mishra
    Parikshit Mishra

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

    Follow @parikshitm899 on Twitter

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