On November 20, it was reported that Haru Invest, a virtual asset custody platform, was officially declared bankrupt by the Seoul Reorganization Court on November 20 on suspicion of deceiving customers and taking away virtual assets worth approximately 1.4 trillion won and suddenly stopped withdrawing cash. Haru Invest's operating company, Haru Management Limited, was previously filed for bankruptcy due to its inability to pay its debts. The court stated that although the company was registered in The British Virgin Islands, South Korean courts had jurisdiction over the case because it had offices and operations in South Korea. The court plans to convene the first creditors meeting on February 11, 2025 to liquidate and distribute the company's assets through the bankruptcy administrator. It is reported that Haru Invest has attracted investors through false promises to protect principal and high returns since 2020, and suddenly stopped withdrawing cash in June last year, causing more than 16,000 investors to suffer.