South Korea-based digital asset management platform Haru Invest is in the eye of the storm after halting withdrawals. People are claiming this is a FTX type of scam.

Haru defends itself

     According to the firm, its internal inspection process found certain information provided by a consignment operator to be incorrect; hence, the immediate suspension of the transaction had to be done only to protect the investors. Haru Invest also says that the company is trying necessary measures; they are not rug pulling.

Investors Cry Foul

     Investors called Haru Invest's explanation more vague because it neither explained the operator who provided the false information, nor about that information, nor the problems it caused. Investors are only concerned about their investments; they will not consider any measures that prevent withdrawals.

Analysis nearly confirms the scam

     Analysts are of the view that what Haru Invest is doing sets a precedent for any company to commit fraud. Everyone employed at Haru Invest is Korean, and most of their users are Korean as well, but the fact that the company has closed its Korean accounts and is only posting in English is also raising suspicions.