Bankruptcy of Haru Investment Affiliates Suspended Withdrawal of '1.4 trillion' Coin

An affiliate of Haru Invest, a controversial virtual asset deposit service company, went bankrupt after receiving 1.4 trillion won worth of coins and suspending withdrawal.

The Seoul Rehabilitation Court today (20th) sentenced Haru Management Limited to bankruptcy by accepting applications from multiple creditors.

This company is a corporation responsible for the membership of Haru Invest and the process of managing customers' virtual assets.

The court saw that although Haru Management was established overseas, it had jurisdiction over the Seoul Rehabilitation Court considering that it had an office in Korea.

In addition, I saw that there was a reason for the inability to pay in light of the fact that the bond amount was not being paid.

The court will hold a creditors' meeting and a bond investigation date at the Seoul Court Complex in February next year.

Haru Invest executives are accused of stealing coins worth 1.4 trillion won by deceiving them as if they would guarantee principal and make high profits from March 2020 until they stopped withdrawing in June last year.