Haru Invest Execs Arrested in South Korea for Allegedly Stealing $828M Worth of Crypto: Report
Summary
South Korean authorities arrested three executives, including the CEO, from yield platform Haru Invest for allegedly stealing 1.1 trillion won ($828 million) in cryptocurrency from approximately 16,000 customers. Haru Invest, which previously promised high yields for crypto deposits, has faced issues for some time. The company halted withdrawals and deposits in June last year due to service partner problems and subsequently laid off around 100 employees. The platform is suspected of executing a "rug pull" scam, where crypto project founders abscond with customer funds. The executives are accused of misappropriating customer funds from March 2020 to June 2023 under the guise of using "risk-free, diversified investment techniques."
