Haru Invest, a South Korean yield platform, has alleged a consignment operator, formerly known as Aventus and currently known as B&S Holdings, of submitting fraudulent management reports that contained false information. The company has also been accused of deceiving the South Korean company and its users.
In one of its blog posts, the South Korean company shared that it was planning on pursuing legal action on top of the criminal suit against B&S holdings to protect its users. The company also mentioned that it was already engaged in major discussions with the consignment operator regarding this enterprise. The blog post from the South Korean company ended with an apology, where they apologized for causing inconveniences and concerns to their customers and investors.
Haru Invest Is Going To Levy Legal Action on B&S Holdings
Haru Invest is headquartered in Singapore and is a centralized finance digital asset management platform that boasts of an in-house trading team that would help users make smarter decisions from a financial standpoint.
The platform has also routinely utilized an algorithmic trading model to optimize the returns on the Bitcoin deposits, Tether, USD Coin, and XRP– which enables the users to generate the maximum revenue whilst minimizing the risk involved. The company has also claimed to have a user base of around 80,000 individuals- which has facilitated around 9.8 million crypto-earn payouts.
The turbulence created by Haru Invest does appear to have a cascading effect on several other platforms within the entirety of the South Korean region. On 14th June, Delio, a South Korean virtual asset manager and lending platform announced that it would now be pausing withdrawals due to heightened market volatility.