After Suspending Withdrawals, South Korean Crypto Platform Haru Invest laid off 100 employees

Liputan6.com, Jakarta South Korean crypto platform Haru Invest terminated contracts for more than 100 employees. This layoff was made by Haru Invest after stopping withdrawals and deposits earlier this month, due to problems with service partners.

“Due to the recent situation, normal company management has become difficult. I made that decision,” Haru Invest CEO Lee Hyung-soo said in a video call informing employees of the change on behalf of parent company Block Crafters, quoted from CoinDesk, Friday ( 23/6/2023).

In the June 20 letter, Lee said Haru Invest was taking legal action against renewable energy company B&S Holdings for fraud, embezzlement and other allegations, adding the company was considered the root cause.

In a blog post Wednesday, June 21, 2023, the platform said that after much deliberation, it is with a heavy heart that the company notifies users that it will minimize the operations of Haru Invest and its affiliated companies to prevent further damage that may occur.

After the platform halted the recall 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.

After stopping the recall, the company closed the office, and all company officials disappeared. Co-founder and former CTO of the company, Eunkwang Joo previously said on Twitter that although Haru Invest had an internal situation, this was not one where they were maliciously trying to pull the rug.

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