Haru Invest Scandal: 350 Korean Users Lost $79 Million
- A group of victims affected by Haru Invest’s sudden withdrawal suspension are being certified for compensation.
- Around 350 victims have completed the identification process, with a total investment amount of around $79 million.
- Haru Invest has not responded to any users who have confirmed harm, and users are waiting indefinitely for updates on the compensation plan.
According to News1, in South Korea, a delegation of harmed users of the digital asset management platform Haru Invest is accepting loss certification data.
On the 20th, the victims whose assets were linked to Haru Invest created a delegation to normalize Haru Invest and submitted a united message to the company.
It started to receive the certification of damage amount: to create a communication channel for only genuine victims on June 23. After three days, about 350 victims had completed the identification procedure, and the total investment amount of those associated with Haru Invest reached around 103 billion won (approximately $79 million).
The sum is projected to climb much greater. This is due to the fact that there are around 1,000 persons who have not finished the certification procedure. Since there are more persons waiting than those who have obtained certification, the amount of harm might reach hundreds of billions of won. The delegation’s leader stated:
“There are 10 executives in the delegation, so it is difficult for the certification to proceed quickly.
Haru Invest did not provide Korean language services in order to avoid reporting to local financial authorities as a virtual asset operator and instead focused on international sales. As a result, it is widely assumed that there are a large number of victims overseas.
The delegation’s leader also stated:
“There is also a victim group among overseas users such as the United States and South America.”
Haru Invest also said that it would react to customer questions by the 26th of this month. But, according to the delegation, Haru Invest has yet to respond to any of the users who have confirmed the harm.
The troubled company abruptly ceased withdrawals on June 13 due to a difficulty with B&S Holdings, a crypto trading corporation that was a “partner company.” Haru Invest responded by announcing that it would file a lawsuit against B&S Holdings. Unfortunately, contact with consumers has created a backfire in this process.
“The promised 26th day has arrived, but no one has yet received an answer. Users have no choice but to wait indefinitely. I think it is correct to explain the compensation plan and restoration plan through communication with users. There is only content that we are preparing a lawsuit against Holdings, but there is no mention of a compensation plan,” the delegation’s leader said.
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