According to PANews, the South Korean crypto lending platform Delio was declared bankrupt by the Seoul court due to users being unable to withdraw approximately 245 billion Korean won in cryptocurrency. The company faced operational disruptions and financial losses, initiating liquidation procedures.
As part of the bankruptcy proceedings, Delio must sell assets and distribute the proceeds to creditors. Creditors must submit claims by February 21, 2025. The Delio creditors' meeting is scheduled for March 19 to discuss the future operational direction of the company.
