Haru Invest’s Mass Layoff: Over 100 Crypto Employees Axed

  • 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.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Two Ancient Whales Sell 9,142 BTC to Accumulate 342,847 ETH (Ethereum) Worth $1.63B — $110M Profit

COINOTAG on August 24 reported two crypto ancient whales...

Bitcoin Ancient Whale Deposits 5,000 BTC to Hyperliquid to Swap for ETH, Now Holding 179,498 ETH (~$8.5B)

According to COINOTAG on August 24, a longstanding Bitcoin...

Whale 0x3c9E Panic-Sells Ethereum (ETH) During Dips, Then Buys Back at Higher Prices

COINOTAG reported that on-chain analytics platform lookonchain identified persistent...

AAVE Founder Stani.eth Confirms WLFI Deal, Treasury to Receive $2.5B as Rumors Drive AAVE Price Volatility

Aave founder Stani.eth addressed market questions on social media,...

ETH (Ethereum) Target Above $10,000 — LD Capital’s Jack Yi Predicts ETH to Challenge BTC Exchange-Rate High

LD Capital founder Jack Yi highlighted market dynamics following...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img