Crypto yield platform Haru suspends transfers after investigation

South Korean yield platform Haru Invest on June 13 announced That it will suspend deposits and withdrawals with immediate effect. “First, the company sincerely apologizes that its latest announcement has caused concern to our valued investors and customers,” Haru claimed, adding that during an “internal inspection process” “certain information provided by a consignment operator was found to be incorrect.” was suspected”. Thus the transference stops.

“After careful investigation, we concluded that the immediate suspension of trading was necessary to protect our investors. We are currently engaged in a fact-finding process against the operator in question and plan to take the necessary measures.”

Haru Invest also claims that it has not experienced a “rag pull” and is working diligently to “protect our investors”. Said It “came across a certain issue with one of the service partners we work with” and is looking into the issue, seeking a contingency plan. Shortly thereafter, local news outlets in South Korea claimed that Haru employees were working from home and that offices were closed. Specifically, Mile Business alleged,

“The investors failed to receive their deposits and are angry. Since this is an unreported business operator, there is no way to get help from the financial authorities.”

In response, the developers commented: “We regret that several media articles on this topic (have) factually incorrect information.”

According to its website, Haru Invest has over 80,000 members, 9.8 million crypto-income payments and $2.27 billion in total transactions. The firm targets an annualized yield of 12% on most of its earnings products. In September it raised $4 million at a $284 million valuation.

Important update from Haru Invest. pic.twitter.com/E8mB6PeDQW

– Haru Invest (@haruinvest) June 13, 2023

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