Haru halts withdrawals and deposits

On June 13, Haru Invest, a crypto platform based in South Korea that offers interest-bearing services, announced the suspension of both deposit and user withdrawal functions.

User access to funds suspended

Haru Invest has announced the temporary suspension of transactions in order to protect investors, citing a business error. The company did not provide a specific timeline for when deposits and withdrawals would resume.

According to Haru's explanation, the decision to halt services was prompted by the discovery of false information provided by a partner, specifically a consignment operator. The company is currently conducting an investigation into the operator and intends to take appropriate actions.

In response to circulating rumors, Haru reassured its users that claims suggesting involvement in a rug pull scam are unfounded and inaccurate.

Community members have observed that Haru has removed its YouTube and LinkedIn profiles, although the company did not address this in its announcement.

Other companies halted services in 2022

Starting in the summer of 2022, several cryptocurrency platforms that provided lending or interest-bearing services experienced a suspension of user withdrawals. Companies such as Celsius, Voyager Digital, Babel Finance, CoinFlex, and BlockFi were among those that halted withdrawals during that period. Unfortunately, many of these companies eventually filed for bankruptcy.

Haru, which currently manages assets worth less than $1 billion, has not offered any clarification for the suspension of its services.