B&S Holdings, formerly known as consignment operator Aventus, has been accused by Korean income platform Haru Invest of submitting fraudulent management reports containing "false information" and defrauding the company and its users. In a blog post, Haru Invest said it planned to t ake legal action in addition to the criminal proceedings against B&S Holdings "to protect our users." Haru Invest said it was in discussions with B&S Holdings on the matter. The company concluded its apology announcement, stating:
"Once again, we apologize for the concern and inconvenience this has caused our investors and customers. We will continue to resolve this issue faithfully, as the company's top priority is protecting our users." Headquartered in Singapore, Haru Invest is a centralized fin ancial digital asset management platform with an in-house trading team to help users make more informed financial decisions. The Platform Utilizes Algorithmic Trading Models to Optimize Bitcoin Deposit , Ether, Tether, USDC and Ripple, Enable users to generate maximum returns while minimum izing risks. Haru Invest claims to have a user base of over 80,000 people and has facilitated 9.8 million cryptocurrency payments.
The turmoil at Haru Invest appears to be having a knock-on effect on other platforms in the South Korean region. On June 14, South Korean virtual asset manager and lending platform Delio announced that it would suspend withdrawals on its platform due to heightened market volatility and growing confusion among investors in the region due to challenges from Haru Invest.
