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Delio plans to set up a new company and transfer all debts

According to Odaily, South Korean virtual asset management and lending platform Delio plans to establish a new company and transfer all of its debt. The company has reiterated its plan to sell its existing entities, including the Virtual Asset Service Provider (VASP), and use the proceeds to pay down its debt.

Delio is currently facing trial, accused of embezzling nearly 250 billion Korean won ($180 million) in virtual assets and suddenly halting deposits and withdrawals without prior notice. Industry insiders have expressed doubts about DeLeo's plans, suggesting that these actions could be an attempt to secure a reduced sentence at trial.