According to Digital Asset, the South Korean prosecutors seized only 50 billion won in virtual assets when investigating the virtual asset custodian Haru Invest. This is a negligible amount compared to Haru Invest's previous disclosure in court that its client, cryptocurrency custodian B&S, suffered a loss of up to 400 billion won due to the FTX crash in November 2022. It is expected to trigger disputes among victims regarding compensation.
Last June, Haru Invest executives were indicted for allegedly defrauding investors of more than 1.4 trillion won (about $1 billion) in cryptocurrencies. The company’s CEO, Hugo Lee, was arrested in February.
