Crypto yield platform Haru suspends transfers after investigation

Haru Invest, a South Korean yield platform, declared on June 13th that deposits and withdrawals would be suspended with immediate effect. The company expressed its remorse for the worries this statement may have provoked amongst its investors and patrons, maintaining that certain data given by an agent was suspected to be inaccurate during an internal review, leading to the cessation of transfers.

Haru Invest insists that it has not undergone a “rug pull” and is actively working to “safeguard its investors.” Earlier, the company stated that it had “encountered an issue with one of the service partners we have collaborated with” and is in the process of researching the issue while searching for an alternative solution. Soon after, South Korean media sources, such as Maeil Business, claimed that Haru employees were working remotely and the offices had been shut down.

The developers responded by saying: “We are sorry that some of the media reports about this issue contained inaccurate facts.”

As per its website, Haru Invest has a membership base of 80,000, has given out crypto-earn payouts worth 9.8 million, and has processed a total of $2.27 billion in transactions. Most of its earn products offer an annual yield of 12%. In September, the firm raised $4 million at a valuation of $284 million.

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