South Korean prosecutors enforce a travel ban on officials from Haru Investment, Delio, and B&S Holdings amid fraud investigation, while US law enforcement tackles bomb threats demanding $5,000 in bitcoin. Meanwhile, Gemini permits withdrawals to Voyager Digital bankruptcy victims, and Binance reverses plans to delist privacy coins in Europe.
Search Results for: B&S Holdings
Haru Invest Terminates 100+ Employee Contracts: A Struggle for Survival in Crypto World
Haru Invest, a South Korean crypto yield platform, has terminated contracts for over 100 employees amid operational issues. The company cited withdrawal pause and issues with external management company B&S Holdings as reasons for minimizing operations, and plans to cooperate with authorities to resolve legal actions taken against them.
Bankruptcy of Haru Invest: Impacts on Crypto Lending and The Future of Stablecoins
South Korean CeFi firm Haru Invest, recently filed for bankruptcy following fraud allegations. This incident affected fellow crypto lender, Delio, leading to a suspension of deposits and withdrawals in June. Despite bankruptcy, Haru set a phased asset recovery plan aiming to return investments equally to its users.
Crypto Chaos: Co-founder Sues Huobi, Hodlnaut’s Struggle, and 3AC Ventures’ Unusual Comeback
Leon Lin Li, Huobi Global’s former co-founder, sues the company for copyright infringement while Singaporean crypto lending firm Hodlnaut faces uncertainty as it awaits its fate on August 7. Meanwhile, South Korea’s crypto lending market experiences terminated or suspended operations with Haru Invest announcing staff cuts and Delio suspending withdrawals.
South Korean Crypto Lending Turmoil: Delio, Haru, and the Future of Depositor Security
South Korean crypto lending platform Delio plans to resume withdrawals after a pause due to counterparty contagion. The company holds an estimated $1 billion in BTC, $200 million in ETH, and $8.1 billion in altcoins. Delio is working on a recovery plan to compensate users, highlighting the importance of security and transparency in the crypto lending industry.
Hong Kong’s Crypto Red Carpet: Boon for Web3 or Magnet for Legal Troubles?
Hong Kong aims to attract crypto firms and is pressuring financial institutions to accept crypto clients. However, legal issues faced by industry players like Terraform Labs and Haru Invest highlight the contentious legal landscape surrounding cryptocurrency across different jurisdictions.