Troubled crypto investment platform Haru Invest has provided an update on its ongoing efforts to recover assets and address issues arising from the B&S Holdings investigation. In a July 14, 2023 announcement, the company stated that it is actively reaching out to asset management partners both domestically and internationally to recover assets under management. The firm is also considering the sale of company assets to minimize the loss of value.

The company is in the process of organizing a database to clarify the credits and debts of its users. Once the size of the losses is confirmed and the asset allocation plan is finalized, Haru Invest plans to distribute the assets in phases. However, due to limited information on the exact amount of the losses, the company has not provided a specific schedule for this distribution.

Haru Invest has been fully cooperating with the investigating authorities, although specific details on the progress of the investigation have not yet been disclosed. The company is committed to providing weekly updates to its members, even if there are no major updates on the current situation.

On June 13, 2023, Haru Invest announced a temporary suspension of new deposits and investment features in response to the prevailing challenges and uncertainties in the crypto market.

Just two days later, on June 15, 2023, Haru Invest announced that it would be taking legal action against B&S Holdings for allegations of fraud, embezzlement, and related crimes. The company was gathering data to determine the full extent of the damage and planned to share information with members as the investigation process progressed.

On June 20, 2023, Haru Invest CEO Hugo Lee sincerely apologized for concerns raised from the recent incident and acknowledged the need for prompt communication. He expressed his deepest regret for the inconvenience caused to investors and affirmed the company’s commitment to improve the situation. He stressed the company’s commitment to transparently sharing the current situation and progress with members through continuous communication channels.