Struggling South Korean Crypto Yield Platform Sacks Over 100 Employees (Report)

Haru Invest – a South Korean platform that offers various options for investing in cryptocurrencies – will reportedly lay off more than 100 members of its workforce. The layoffs will become official on June 23.

The decision comes days after the company suspended deposits and withdrawals due to an issue with one of its service providers.

• according to recent coverage, Haru Invest terminated the contracts of more than 100 staff members. He got the news from CEO Hyung-Soo Lee during a video conference.

“Due to the recent situation, normal company management is difficult. I made that decision,” he said.

• Haru Invest’s sudden problems started in mid-June when it found “some issue with one of the service partners”. thus, it were stopped Withdrawals and deposits on its platform to ensure maximum customer safety.

• The company came up with another announcement earlier today, Saying It will “minimise” its operations and those of its affiliated firms to prevent further losses following legal actions against B&S Holdings.
• The executive team vowed to inform about any change in the situation in future and provide all necessary support to its employees.

“We are currently looking for the optimal platform to communicate with you regarding our operations. We will inform you once the decision is made. And we will get back to those who have contacted us,” it said.

• Haru Invest’s issues seem to have created a domino effect in South Korea as Delio – a leading crypto lending platform – also Stopped withdrawal. The latter said that this measure was taken because of the exposure of the former.
• dalio later exposure It will resume services in phases without specifying a specific date for the same.

Haru Invest – a South Korean platform that offers various options for investing in cryptocurrencies – will reportedly lay off more than 100 members of its workforce. The layoffs will become official on June 23.

The decision comes days after the company suspended deposits and withdrawals due to an issue with one of its service providers.

• according to recent coverage, Haru Invest terminated the contracts of more than 100 staff members. He got the news from CEO Hyung-Soo Lee during a video conference.

“Due to the recent situation, normal company management is difficult. I made that decision,” he said.

• Haru Invest’s sudden problems started in mid-June when it found “some issue with one of the service partners”. thus, it were stopped Withdrawals and deposits on its platform to ensure maximum customer safety.

• The company came up with another announcement earlier today, Saying It will “minimise” its operations and those of its affiliated firms to prevent further losses following legal actions against B&S Holdings.
• The executive team vowed to inform about any change in the situation in future and provide all necessary support to its employees.

“We are currently looking for the optimal platform to communicate with you regarding our operations. We will inform you once the decision is made. And we will get back to those who have contacted us,” it said.

• Haru Invest’s issues seem to have created a domino effect in South Korea as Delio – a leading crypto lending platform – also Stopped withdrawal. The latter said that this measure was taken because of the exposure of the former.
• dalio later exposure It will resume services in phases without specifying a specific date for the same.