South Korea Arrests Haru Invest Management for Embezzling $826M
Main page News, South Korea

Three top executives of crypto investment platform Haru Invest have been arrested in South Korea.

Prosecutors in the Southern District of Seoul have accused the detainees of appropriating digital assets worth approximately 1.1 trillion Korean won ($826 million) from around 16,000 users.

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The platform reportedly invested most of the customers' funds through a single individual. The company claimed that these funds were managed through "risk-free distributed investment techniques."

In addition, the company offered users of its Earn Plus product an annual return of up to 12%.

The authorities launched an investigation into Haru Invest and crypto lending company Delio, which had a partnership with the platform, after both companies suspended withdrawals in June 2023.

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