Delio, a South Korean crypto lending platform, will again start withdrawals post discontinuing them on June 14, 2023, as stated by Cointelegraph.
According to Cointelegraph, the context of the repayment timeline, method and damage volume weren’t revealed. Jung Sang-ho, CEO, Delio, informed their investors that “[Delio] will secure as much capital as possible to compensate” and that “users’ withdrawals would come in phases.”
Based on Cointelegraph’s data, Delio claims to have around one million dollars in Bitcoin, $200 million in Ether, and nearly $8.1 billion in altcoins. Reportedly, Delio sent a certain part of clients’ funds to Haru Invest, a South Korean crypto yield platform. On June 13, 2023, Haru Invest stopped transactions over “certain information provided by a consignment operator was suspected to be false” during an “internal inspection process.”
“It is difficult to guarantee the rate of return that was initially promoted in the deposit product, but it is explained that there will be a plan to recover the loss,” Sang-ho highlighted around Haru Invest’s bankruptcy situation.
(With insights from Cointelegraph)