B&S Holdings, formerly Aventus, a consignment operator, is facing allegations from the South Korean yield platform Haru Invest that it submitted fraudulent management reports with “false information” in order to mislead the company and its users.
In a blog post, Haru Invest announced its intention to take both legal and criminal action against B&S Holdings in order to safeguard its users. Discussions between Haru Invest and B&S Holdings are in progress. To finish, the company apologized for the inconvenience caused.
Headquartered in Singapore, Haru Invest is a digital asset management platform that offers centralised finance. It has an in-house trading team to help users make wiser financial decisions. The platform uses an algorithmic trading system to maximise returns on deposits of Bitcoin (BTC), Ether (ETH), Tether (USDT), USD Coin (USDC) and XRP (XRP) to allow users to gain maximum profit and reduce risk. Haru Invest reports to have more than 80,000 users and has provided 9.8 million crypto-earn payouts.
Haru, a crypto yield platform, has halted transfers following an investigation.
The repercussions of the turbulence at Haru Invest are beginning to be felt on other platforms in South Korea. On June 14, Delio, a South Korean virtual asset manager and lending platform, declared that it was suspending withdrawals on its platform due to the heightened market volatility and the confusion among investors in the area caused by the issues at Haru Invest.
Can crypto exchanges be trusted after the failure of FTX?
Subscribe to our email newsletter to get the latest posts delivered right to your email.
Comments