South Korean crypto income platform Haru Invest will terminate the contracts of more than 100 employees.
The platform paused withdrawals and deposits earlier this month, citing issues with service partners. Commenting on the subject, CEO Lee-Hyung-soo said: “Due to the current situation, normal company management is difficult. I made this decision,” he said. Lee-Hyung-soo reportedly made a video call to employees of parent company Block Crafters to report the situation.
Lee Expresses Sadness Over The Developments
Employees’ contracts will expire on Friday, June 23, CoinDesk Korea reported on June 22.
In a June 20 statement, CEO Lee said Haru Invest has taken legal action against renewable energy company B&S Holdings for fraud, embezzlement and other allegations, and the company is seen as the source of the problem. In the platform’s blog post on Wednesday, June 21, Lee said: “After a long consideration, I regret to inform you that we will prevent Haru Invest and its subsidiaries from further harm by minimizing their activities.”
After the platform stopped withdrawals on June 13, local media reported that Haru Invest’s office in Seoul was empty because employees were working from home for their own safety, according to Lee.
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