Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

How Was the First Half of 2025? Institutional and Individual Investors Followed Different Strategies! “Institutions Flocked to Bitcoin and Ethereum, While Individual Investors Flocked…

26/07/2025

Filecoin Backs Recall in Securing Transparent AI Match Records

26/07/2025

Dmail Network Partners with Cwallet to Advance Payment and Messaging Solutions

26/07/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Two Crucial Bitcoin (BTC) Levels: $100 Million Concentration

    26/07/2025

    “We’re Right in the Middle Right Now!” Here’s His Thesis!

    26/07/2025

    Bitcoin Faces Whale Pressure, New All-Time High Might Have to Wait

    25/07/2025

    Peter Brandt Says Bitcoin “Banana Chart” Is About to Split – What’s Next?

    25/07/2025

    Ethereum Is So Back? ETH Price Jumps to 2025 High Amid Open Interest Surge

    25/07/2025

    ‘Ethereum Avengers’ Firm to Generate ETH Using $1.5 Billion Stockpile

    25/07/2025

    Cathie Wood’s ARK Loads Up on Ether Treasury Bet Bitmine Immersion

    25/07/2025

    Ethereum Has Already Won—Paul Brody

    25/07/2025

    Filecoin Backs Recall in Securing Transparent AI Match Records

    26/07/2025

    Pundit Explains How the Three US Crypto Bills Could Benefit Ripple and XRP

    26/07/2025

    Polkadot’s Gavin Wood lays out launch plan for Proof of Personhood debut

    26/07/2025

    $52,800,348 in Solana Stun Coinbase in Minutes, Incoming Sell-off?

    26/07/2025

    NFT market cap surged to $6.6B in July: DappRadar

    25/07/2025

    Ethereum Treasury Firm Buys $5M CryptoPunk—And Is Borrowing Stablecoins Against It

    25/07/2025

    Ether Treasury Company GameSquare Buys CryptoPunk NFT for $5.15M

    24/07/2025

    Yuga Labs Bored Ape Yacht Club $9M Win Against Ryder Ripps Overturned, Must Better Prove Trademark Infringement

    24/07/2025

    How Was the First Half of 2025? Institutional and Individual Investors Followed Different Strategies! “Institutions Flocked to Bitcoin and Ethereum, While Individual Investors Flocked…

    26/07/2025

    Filecoin Backs Recall in Securing Transparent AI Match Records

    26/07/2025

    Dmail Network Partners with Cwallet to Advance Payment and Messaging Solutions

    26/07/2025

    Two Crucial Bitcoin (BTC) Levels: $100 Million Concentration

    26/07/2025
  • Blockchain

    Dmail Network Partners with Cwallet to Advance Payment and Messaging Solutions

    26/07/2025

    Vietnam Blockchain Unveils Revolutionary NDAChain Platform

    26/07/2025

    ZK breakthroughs, onchain comebacks and stablecoin shakeups

    26/07/2025

    AGI Open Network Joins Orecast to Bring Global Mineral Market Onchain

    25/07/2025

    Bless Network and Space and Time Partner to Run Verifiable AI Agents on Edge Devices

    24/07/2025
  • DeFi

    Apple Farm season 2 now live on Etherlink with $3M in rewards

    25/07/2025

    Retail XRP Holders Could Soon Earn 20% Yield on Their Tokens

    25/07/2025

    Pell Network Collaborates with HashKey Chain to Forge BTCFi Revolution in RWA Sector

    25/07/2025

    Revolutionary Injective Tokenization Unlocks $1.3B ETH Treasury for DeFi

    25/07/2025

    Deciding the Future of Reimbursement After the Exploit

    25/07/2025
  • Metaverse

    AntVerse Integrates Terminus to Transform AI-Powered Metaverse with Web3 Payments

    25/07/2025

    The Sandbox Launches Largest LAND Auction Using GBM Protocol

    21/07/2025

    Elon Musk’s xAI Quietly Fixed Grok by Deleting a Line of Code

    09/07/2025

    Bonk.fun Grabs 55% of Solana Token Issuance Share, Pushes BONK Demand

    08/07/2025

    Apple’s Top AI Exec Leaves For Meta Amid Aggressive Hiring Trend

    08/07/2025
  • Regulation

    How Was the First Half of 2025? Institutional and Individual Investors Followed Different Strategies! “Institutions Flocked to Bitcoin and Ethereum, While Individual Investors Flocked…

    26/07/2025

    Donald Trump Launches Official Process for Fed Chair! US Treasury Secretary Calls for “Extension” to Powell!

    26/07/2025

    Here’s why the stock and crypto markets rose after the US inflation data

    26/07/2025

    Function raises $10M seed round led by Galaxy to launch first fully reserved, composable Bitcoin yield product

    25/07/2025

    Coinbase’s $100 billion milestone sparks trillion-dollar company speculation

    25/07/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Kraken to Support Biotech Firm Windtree’s $200M BNB Treasury Play

    25/07/2025

    Bahamas Claims Approved, US Hearing Underway

    25/07/2025

    EDX Unveils International Crypto Trading Platform With Perpetual Futures

    25/07/2025

    CoinDCX CEO Counters $44.2M Hack Fears Revealing $136 Million in Annual Revenue

    25/07/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    Octo Gaming Teams Up with Starknet for Exclusive Rollup-Powered Game Launch

    25/07/2025

    Off the Grid Skin Sale Volume Hits $30K as the Avalanche Shooter Hits OpenSea

    25/07/2025

    Axie Infinity Creator Sky Mavis Backs New BORA-Integrated Game on LINE NEXT App

    24/07/2025

    ‘Tokyo Beast’ Speedruns Crypto Game Cycle, Shutting Down Just a Month After Launch

    24/07/2025

    Bitmain Funnels 187 Tons of Antminer Parts to Skirt US Tariffs

    25/07/2025

    Russian authorities implicate illegal mining for 200% spike in video card sales

    25/07/2025

    ‘Every family here is sick,‘ say neighbors of Bitcoin mining facility in Texas

    25/07/2025

    Cango finalizes pivot to a Bitcoin mining company

    24/07/2025

    Hong Kong’s stablecoin licensing to adopt invite-only approach: report

    25/07/2025

    Senator Warren Slams GOP’s Crypto Plan, Warns of ‘Presidential Corruption’

    25/07/2025

    White House Set to Launch First Major Crypto Policy Report On July 22

    25/07/2025

    SEC explores Ethereum token standard for compliant securities

    25/07/2025

    How Was the First Half of 2025? Institutional and Individual Investors Followed Different Strategies! “Institutions Flocked to Bitcoin and Ethereum, While Individual Investors Flocked…

    26/07/2025

    Filecoin Backs Recall in Securing Transparent AI Match Records

    26/07/2025

    Dmail Network Partners with Cwallet to Advance Payment and Messaging Solutions

    26/07/2025

    Two Crucial Bitcoin (BTC) Levels: $100 Million Concentration

    26/07/2025
  • MarketCap
NBTC News
Home»Regulation»Haru Invest declared bankrupt amidst alleged $1b investor fraud
Regulation

Haru Invest declared bankrupt amidst alleged $1b investor fraud

NBTCBy NBTC22/11/2024No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


The Seoul Rehabilitation Court officially declared bankruptcy on crypto yield platform Haru Invest, after it was implicated in a crypto fraud worth up to $1 billion.

Investigations by South Korean law enforcement revealed that Haru Invest, a crypto yield firm operating under Haru Management Limited, allegedly defrauded investors of 1.4 trillion won or equal to $1 billion in a “rug pull” scheme that left creditors reeling.

According to local news outlet Newsis, the Seoul Rehabilitation Court announced Haru Invest’s bankruptcy status on Nov. 20, effectively declaring the company insolvent due to its inability to repay customer damages. Despite establishing itself in the British Virgin Islands, the South Korean courts still hold jurisdiction over the company due to most of its operations taking place in Korea.

The court determined that the first creditor’s meeting will be held on Feb. 11, 2025. The bankruptcy administrator will assess the financial status of Haru Management and how the assets will be liquidated. The liquidation process will be enough to at least cover some of the unpaid damages owed to investors.

You might also like: Haru Invest CEO stabbed during fraud trial: report

Based on the report, investors applied for corporate rehabilitation procedures in court around June 2023, but the court rejected it. They proceeded to file for bankruptcy in April 2024.

On Nov. 15, Haru Invest announced that it was opposed to declaring bankruptcy because it believed doing so would limit the firm’s options and decrease its negotiation standing in ongoing efforts to recover assets related to the collapse of FTX.

In the company notice, Haru Invest CEO Hugo Lee claimed Haru’s creditor company B&S Holdings owned assets related to FTX. Lee claimed that B&S Holdings CEO Bang Jun-Ho has asset claims worth $165 million, which he sold without prior notice to Haru Invest executives.

In addition, he also stated the current amount of cryptocurrency actually owed to customers was not 1.4 trillion won, as the number still includes assets previously returned to customers. Instead, he claimed the true amount owed to customers sits at around 460 billion won or approximately $467.1 million.

Dear Haru Invest members, please check our announcement. pic.twitter.com/PhBcbXS2ek

— Haru Invest (@haruinvest) November 15, 2024

“A substantial portion of the virtual assets recovered after the suspension of deposits or withdrawals last year is being securely held by prosecutors in a cold wallet,” Lee wrote in the company notice.

In February, South Korean authorities arrested three Haru Invest executives, including two of its CEOs, on charges of defrauding over 16,000 investors by guaranteeing principal safety and offering significant returns on crypto deposits occurring from March 2020 to June 2023.

The scheme was reportedly uncovered in June 2023 when the platform abruptly suspended withdrawals, triggering widespread panic. Around the same time, customers also could not deposit digital assets on the service and Haru fired around 100 of its employees.

Read more: Singapore-based Haru Invest comments on rug pull rumors


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

How Was the First Half of 2025? Institutional and Individual Investors Followed Different Strategies! “Institutions Flocked to Bitcoin and Ethereum, While Individual Investors Flocked…

26/07/2025

Donald Trump Launches Official Process for Fed Chair! US Treasury Secretary Calls for “Extension” to Powell!

26/07/2025

Here’s why the stock and crypto markets rose after the US inflation data

26/07/2025

Function raises $10M seed round led by Galaxy to launch first fully reserved, composable Bitcoin yield product

25/07/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

How Was the First Half of 2025? Institutional and Individual Investors Followed Different Strategies! “Institutions Flocked to Bitcoin and Ethereum, While Individual Investors Flocked…

26/07/2025

Filecoin Backs Recall in Securing Transparent AI Match Records

26/07/2025

Dmail Network Partners with Cwallet to Advance Payment and Messaging Solutions

26/07/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.