Haru Invest crypto platform suspends deposits and withdrawals

The company’s team cited problems with an unnamed partner

13.06.2023 - 09:15

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What’s new? On June 13, at 00:40 UTC, Haru Invest, the South Korean digital asset management platform, suspended deposits and withdrawals due to problems with an unnamed partner. The purpose of this decision is to protect client assets. Haru Invest’s team is further investigating the problem with the partner and developing a contingency plan to rectify the situation, according to the platform’s blog.

Haru Invest Blog

What is known about Haru Invest? The company was founded in 2019 and is headquartered in Singapore. According to Haru Invest’s website, “members in over 140 countries use our platform to maximize the power of their crypto assets through secure and simple investing.” Its partners are the BitGo exchange and analytics company Chainalysis. In addition, the platform is licensed by Money Service Business (MSB).

On June 9, the US arm of the crypto exchange Binance suspended deposits in US dollars. Its banking partners closed fiat withdrawals on June 13. The reason for such measures was a lawsuit by the US Securities and Exchange Commission (SEC) against, the global exchange Binance.com, Binance.US, and the companies’ co-founder Changpeng Zhao. There are 13 charges against them, including failure to comply with securities laws in the States.

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