Why did Smartly halt new sign ups and deposits?

I am just writing to them to get some clarification. Rumours I heard from some connections while at a fintech gathering that they got into trouble with gov and might be shutting operations... (which is why they are so quiet)! Not sure if it is true.. but stay calm first until we hear an update.

With so many robo advisor come on board to a vy tiny market Singapore, there will be some go into financial problem as this robo advisor need certain volume to sustain their operation.
Having say that, I do not know what exactly happen to them and I dun have account with them. When u see a robo advisor vy quiet for a period of time, there is some signal that u need to b take note of alr...