South Korea Arrests Haru Invest Executives for $826M Crypto Embezzlement

The arrests follow allegations of misappropriating funds from 16,000 customers through deceptive investment promises.

Three Haru Invest executives, including the CEO, have been arrested in South Korea over allegations of embezzling $826 million in cryptocurrency.
Prosecutors accuse the executives of siphoning off customer deposits between March 2020 and June 2023, under the guise of offering 'risk-free decentralized investment techniques'.
Haru Invest claimed to provide double-digit yields on cryptocurrencies, but froze withdrawals for 80,000 users in June 2023, citing issues with a service partner.
An arrest warrant was issued in January 2024 for an individual linked to both Haru Invest and another crypto lending firm, Delio, which also halted user withdrawals.
South Korean authorities are conducting a thorough investigation to recover damages and return criminal proceeds to the victims.