A South Korean cryptocurrency platform, Haru Invest, has announced its commitment to returning users’ assets following its recent bankruptcy.
The CEO of the company, Hugo Lee, has made it clear that the organization is working towards gradually refunding the affected user’s assets. Nevertheless, “the asset distribution schedule is impossible at this time” because of continuous legal actions and proceedings and teamwork with investigative authorities.
Hugo Lee said, “As legal procedures including rehabilitation and cooperation with investigative agencies are still underway, we are essentially unable to distribute the assets on our own.
In this regard, Lee has ensured investors that the asset return process will be conducted fairly without favoring South Korean creditors over international ones, as about 60% of Haru Invest’s users are foreigners.
The platform had accumulated a huge number of users and carried out transactions amounting to $2.27 billion before its downfall, but it is currently operating very minimally, with the website login disabled.
Also Read: Haru Invest Halts Withdrawals and Deposits in South Korea
