CandleFocus Haru Invest declared bankrupt amidst alleged $1b investor fraud
2024-11-20
Author: Content Editor
Crypto yield platform Haru Invest, operating under Haru Management Limited, has been declared bankrupt by the Seoul Rehabilitation Court following allegations of a crypto fraud worth up to $1 billion. The court determined that Haru Invest is insolvent and unable to repay customer damages. The first creditor's meeting will be held in February 2025 to assess the financial status of Haru Management and the liquidation process to cover unpaid damages owed to investors. Haru Invest had opposed declaring bankruptcy, stating that it would limit the firm's options and negotiation standing in efforts to recover assets related to the collapse of FTX.
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