Odaily reported that Altura CEO Ranveer posted on X that the platform experienced an unprecedented scale of redemption requests over the past 24 hours. According to his statement, Altura has successfully processed more than 8.5 million USDT in instant redemptions during that period.
More than 8.5 million USDT in instant redemptions
Ranveer said the continued redemption demand, together with the current market sentiment, led the platform to begin an orderly liquidation of the Altura vault. He described the priority as protecting user funds while completing all redemptions in a fair, transparent and efficient manner.
Portfolio positions are being closed
Altura has notified all counterparties and partners, and has started closing positions in its investment portfolio. The positions mentioned by Ranveer include exchange holdings, private credit opportunities and real-world asset strategies. Some positions can be redeemed immediately, while the remaining positions must follow standard settlement and redemption cycles.
Ranveer said Altura is working closely with all counterparties to accelerate the process as much as possible. He added that the liquidation is proceeding in a structured way, and funds will be returned to users gradually as the underlying positions are redeemed. The team continued processing redemption requests over the weekend and maintained communication with both partners and users.