Haru Invest Continues Asset Recovery Efforts

Haru Invest, the troubled crypto investment platform, has provided an update on its ongoing efforts to recover assets and address issues arising from the investigation into B&S Holdings. In an announcement on July 14, 2023, the company stated it is actively communicating with asset managing partners both domestically and internationally to recover assets under management. The firm is also considering the sale of company assets to minimize the loss of value.

The company is in the process of organizing a database to clarify the credits and debts of its users. Once the size of the losses is confirmed and the asset distribution plan is finalized, Haru Invest plans to distribute the assets in phases. However, due to limited information on the exact amount of losses, the firm has not provided a specific timeline for this distribution.

Haru Invest has been fully cooperating with investigative authorities, although no specific details about the progress of the investigation have been disclosed yet. The company has committed to providing weekly updates to its members, even if there are no major updates on the current situation.

On June 13, 2023, Haru Invest announced a temporary suspension of new deposits and investment features in response to the challenges and uncertainties prevailing in the crypto market.

Just two days later, on June 15, 2023, Haru Invest announced that it was pursuing legal action against B&S Holdings for allegations of fraud, embezzlement, and related offenses. The company was gathering facts to determine the full extent of the damage and planned to share information with members as the fact-finding process progressed.

On June 20, 2023, Haru Invest's CEO, Hugo Lee, extended a sincere apology for the concerns arising from the recent incident and acknowledged the need for prompt communication. He expressed his deepest regret for the inconvenience caused to investors and affirmed the company's commitment to improving the situation. He emphasized the company's commitment to transparently sharing the current situation and progress with members through continuous communication channels.