Haru Invest platform halts withdrawals

The South Korean platform for crypto-asset management Haru Invest has halted withdrawals and deposits, сославшись on problems with service partners.

«We are further examining the problem with them and are developing a contingency plan to remedy the situation», — the statement said.

Representatives of the platform did not name the partner whose actions affected its operations.

According to местных СМИ, Haru Invest’s Seoul office is closed. The head of the company, Lee Hyun-su explained that this was due to concerns about the safety of employees. He said that operations had shifted to remote work.

Co-founder and former CTO Eunkwang Joo [Eunkwang Joo] said what happened was an “internal matter”.

I suspect that closing the social media account was not in line with the law firm’s guidelines for legal action.
As someone who built the product with care, I hope this issue is resolved quickly and the service returns to normal. I think we will have to wait for the company’s official position to get a more accurate understanding of the facts.

— jooddang.eth (@jooddang) June 13, 2023

«I suppose that closing the LinkedIn account complied with the corporate guidelines at the legal level. […] I think we will have to wait for the official position of the company», — he wrote.

In February 2023, Haru Invest led a Series A funding round of $9.2 million for Canadian miner Pow.re. Its valuation reached $150 million.

In autumn 2022, the staking platform Freeway froze the ability for clients to withdraw blocked funds and removed mentions of team members from its site.