Haru Invest, a South Korean company known for offering high-yield cryptocurrency savings products, has suspended withdrawals and deposits due to issues with service partners. The firm made this announcement in a blog post, stating that it is currently investigating the issue and working on a contingency plan to resolve the situation. As a precaution to protect users’ assets, all deposit and withdrawal requests have been temporarily suspended until further notice.
Cryptocurrency platform announced a temporary stop
While Haru Invest did not disclose the specific partner causing the operational impact, the company’s LinkedIn page was deleted although its Twitter profile remained active. Upbit, a South Korean exchange, has reportedly placed limitations on its ability to withdraw assets from Haru Invest’s platform. According to local media reports, Haru Invest’s office in Seoul is currently empty and employees are working remotely for their own safety. CEO Hyung-soo ‘Hugo’ Lee released a statement confirming the work-from-home arrangement.
소셜미디어 계정들이 다 닫히고 회사에서 공식 입장을 내놓지 않아서 유저분들은 답답하실 것 같은데요, 저도 퇴사는 했지만 유저의 한 사람으로서 답답한 심정을 동일하게 느끼고 있습니다.
하루인베스트가 내부에 사정이 생기긴 했지만, 악의적으로 러그풀을 하려는 상황은 아닙니다.— jooddang.eth (@jooddang) June 13, 2023
Eunkwang Joo, co-founder and former CTO of Haru Invest, shared a series of tweets speculating about the situation. Joo mentioned the possibility of an internal problem, but dismissed the idea of a deliberate malicious act. He suggested that the shutdown of social media accounts could be a legal response to an undisclosed situation, possibly related to regulatory actions in South Korea. It should be noted that Haru Invest previously invested $18 million in Montreal-based mining company Pow.re.
Despite attempts to get comment, Haru Invest’s PR agency and communications manager did not respond. Haru Invest’s temporary suspension of withdrawals and deposits has raised concerns among its customers. Investors are eagerly awaiting updates from the company regarding the resolution of the problem with its service partners and the resumption of normal operations. As the situation unfolds, the cryptocurrency community will closely monitor developments surrounding Haru Invest, hoping for a swift resolution and protection of users’ assets.
