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

Tron Minted 8.2451 Billion Tokens in a Week: A Look at On-Chain Stablecoin Trends

According to recent data from LookIntoChain, in the last...

Bybit’s ETH Reserves Near 100%: Deposits and Withdrawals Resume as Eco-System Strengthens

On February 24th, Bybit confirmed a significant milestone regarding...

Massive $10.21 Million BAN Deposit to Gate Raises Concerns Over Market Losses

Recent trends observed by COINOTAG News indicate significant movements...

Binance to Launch BNB/ARS and New Trading Bot Services on February 25, 2025

On February 24, Binance confirmed its plans to expand...

BAN Liquidations Soar to $11.26 Million in 24 Hours, Surpassing Key Cryptos

On February 24th, data from Coinglass indicates that the...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img