South Korean cryptocurrency lending platform Delio will resume user withdrawals after a temporary suspension on June 14. The exact timeline for the resumption has not been specified. Delio's CEO, Jung Sang-ho, assured investors during a meeting on June 17 that the p platform would make Every effort to secure sufficient funds for compensating users, and withdrawals would be processed gradually. However, specific details about the repayment period, method, and extent of losses were not disclosed.
Delio is a prominent cryptocurrency lending company in South Korea, holding significant amounts of Bitcoin, ether, and alternative cryptocurrencies, totaling billions of dollars. The platform entrusted a significant portion of its client funds to Haru Invest, a South Korean cryptocurrency earning platform. June 13, Haru Invest suspended deposits and withdrawals due to concerns about potentially false information provided by an external operator during an internal inspection.
Haru Invest has a substantial user base, serving over 80,000 individuals and facilitating crypto earning payouts for millions. During the investor meeting hosted by Delio, Sang-ho acknowledged that Haru Invest was facing financial difficulties and indicated plans were be ing developed to recover losses. However , ensuring the initially promised rate of return on deposit products posed challenges. On June 14, Haru Invest filed a criminal complaint against its service provider, B&S Holdings, and announced its intention to pursue legal action through civil proceedingings. The company expressed apologies for any concerns or inconveniences caused to investors and customers, emphasizing their commitment to address the matter diligently.
Summary
South Korean cryptocurrency lending platform Delio is set to resume user withdrawals following a temporary suspension on June 14. CEO Jung Sang-ho assured investors that efforts would be made to secure funds for compensating users, although specific details about repayment were not disclosed. Delio had entrusted client funds to Haru Invest, a cryptocurrency earning platform that suspended deposits and withdrawals due to concerns about false information. Haru Invest, serving a large user base, is facing financial difficulties and plans to take legal action against its service provider, B&S Holdings, to recover losses. Delio expressed commitment to resolving the situation diligently.
