Wu said that according to the Chosun Ilbo, South Korean virtual asset management and lending platform Delio issued a notice to creditors, announcing plans to set up a new company to take over all its debts. Delio intends to sell its existing entities, including a virtual asset service provider (VASP), and use the proceeds from the sale to settle its financial obligations. Currently, Delio is facing trial on charges of allegedly stealing approximately 250 billion won (US$180 million) in cryptocurrencies and suddenly stopping cryptocurrency deposits and withdrawals without prior notice. Industry insiders pointed out that Delio's plan is unrealistic and may just be intended to get a reduced sentence at trial.