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- South Korean crypto yield platform Haru Invest is set to terminate the contracts of over 100 employees.
- CEO Lee-Hyung-soo said the decision was made due to issues with service partners.
- Haru Invest has launched legal proceedings against renewable energy firm B&S Holdings for fraud and embezzlement.
South Korean crypto yield platform Haru Invest is set to terminate the contracts of over 100 employees, citing issues with service partners. CEO Lee-Hyung-soo said the decision was made due to issues with service partners, and the platform has launched legal proceedings against renewable energy firm B&S Holdings for fraud and embezzlement.
Haru Invest to Terminate Over 100 Contracts
South Korean crypto yield platform Haru Invest is set to terminate the contracts of over 100 employees. The platform had suspended withdrawal and deposit transactions earlier this month, citing issues with service partners. CEO Lee-Hyung-soo said, “Due to the current situation, normal company management is difficult. I made this decision.” Lee-Hyung-soo reportedly held a video conference to inform employees of parent company Block Crafters about the situation.
Lee Expresses Regret Over Developments
According to a June 22 report by CoinDesk Korea, the employees’ contracts will expire on Friday, June 23. In a statement on June 20, CEO Lee said that Haru Invest had launched legal proceedings against renewable energy company B&S Holdings for fraud, embezzlement, and other allegations, and that the company was seen as the source of the problem. Lee said in a blog post published by the platform on Wednesday, June 21, “After a long review, I regret to inform you that we will minimize the activities of Haru Invest and its affiliates to prevent further damage.”
Withdrawal Transactions Suspended
Following the platform’s suspension of withdrawal transactions on June 13, local media reported that Haru Invest’s Seoul office was empty because, according to Lee, employees were working from home for their own safety.
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