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Haru Invest Crypto Earn Platform Seizes Withdrawals, Citing Service Partner Problems

Published:

The crypto management platform Haru Invest in South Korea halted withdrawals from its platform and claim that they have problems with 1 of its service partners”.

According to a local news report, the company announced the suspension. The seizure of withdrawals decision was a “tough one” for them.

However, the company decided to safeguard user funds while the company work out a “backup plan to resolve the situation.”

More details

The local reports also showed that Haru Invest Seoul offices have also been closed down and its LinkedIn account.

Furthermore, Hugo Hyungsoo Lee, the company’s CEO defended the closure of their office by stating that the company moved to a work-from-home instruction.

Supposedly, the move was to save the assets within the office from possible fallouts of users because of the withdrawal suspension.

READ ALSO: Unveiling the Benefits for Shiba Inu Holders

Meanwhile, Haru’s former chief technical officer Eunkwang.Joo, reported that the closure of the firm’s social media account complied with the “laws of the law firm according to legal response”.

Furthermore, Joo included that the company has an “inner problem” that they are battling with.

As a result, the company’s suspension of withdrawals wasn’t the case of a malicious attempt to pull out the rug under people’s feet.

Instead, it is their way of containing the arising problem the company is facing while waiting for a contingency plan to materialize and save the day.

What Are Haru Invest Strengths?

Haru Invest provides yields of around 12% to 25% on 5 of the cryptos in BTC (Bitcoin), ETH (Ethereum), USDT (Tether), USDC (Circle), and XRP.

According to the company’s update on April 18, Haru has more than 80,000 customers in more than 140 countries.

This figure is nearly $1 billion worth of assets controlled by the management.

How is the Community Handling the Matter?

Following Haru’s withdrawal suspension, another crypto exchange in South Korea Upbit suspends the withdrawals of Upbit assets to Haru.

However, the firm is still with all of its customer’s funds and its global assets management partners and internal trading team.

It utilizes different investment activities and arbitrage to generate yields.

Meanwhile, on Telegram, most Haru users have started to grow impatient.

Even some of them have the intention to prepare legal action against the company.

Additionally, another upset user took to Twitter and posted that he was “immensely worried” since Haru hasn’t given out any information.

When asked by the news outlet to offer a response, the company didn’t make any response immediately.

 

 

 

 

 

 

 

 

 

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