According to Odaily, South Korean virtual asset management and lending platform Delio is planning to establish a new company and transfer all its debts. The company has reiterated its plan to sell its existing entities, including a Virtual Asset Service Provider (VASP), and use the proceeds to repay its debts.
Delio is currently facing trial, accused of misappropriating approximately 250 billion Korean won ($180 million) in virtual assets and abruptly stopping deposits and withdrawals without prior notice. Industry insiders have expressed skepticism about Delio's plans, suggesting that these actions could be an attempt to secure a reduced sentence in the trial.
