South Korean Yield Platform Haru Invest Executives Arrested for Allegedly Stealing $828 Million in Crypto
Three executives at Haru Invest, a South Korean yield platform, have been arrested for allegedly stealing $828 million worth of cryptocurrency from 16,000 customers. The CEO is among those arrested by the Joint Investigation Team of Virtual Asset Crimes of the Seoul Southern District Prosecutors' Office. The platform had previously promised double-digit yields for crypto deposits but paused withdrawals and deposits in June 2020, citing issues with service partners. The prosecutors have accused the executives of misappropriating customer funds between March 2020 and June 2023 while advertising "risk-free, diversified investment techniques." The platform is suspected of running a "rug pull" scam where founders of crypto projects disappear with customers' funds.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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