South Korea has seized virtual assets worth 36 million dollars from Haru Invest

According to Digital Asset, South Korean prosecutors have successfully seized virtual assets worth approximately 50 billion won (about 36 million USD) from the digital asset management platform Haru Invest in a fraud trial at the Southern District Court of Seoul.

Previously, Haru Invest revealed in court that its client cryptocurrency custodian B&S suffered losses of up to 400 billion won due to the FTX collapse in November 2022. In June last year, executives from Haru Invest were charged with defrauding investors of over 1.4 trillion won (about 1 billion USD) in cryptocurrency. The company's CEO, Hugo Lee, was arrested in February this year.