In a dramatic turn of events in Seoul, Hugo Hyungsoo Lee, CEO of South Korean crypto firm Haru Invest, was viciously attacked in a courtroom on August 27, 2024. The incident unfolded during the high-profile trial concerning the alleged theft of $826 million from around 16,000 users by the company’s executives.
The attacker, a man in his 40s and one of Haru Invest’s disgruntled clients, lunged at Lee with a knife, targeting his neck. The sudden assault sent shockwaves through the courtroom, leading to Lee being swiftly transported to a nearby hospital for emergency medical attention.
Haru Invest, a once-prominent name in crypto earning, has been under scrutiny since it suspended withdrawals on June 13, 2023. This action, followed by Delio—a depository and management firm with funds at Haru Invest—also halting withdrawals, raised alarm bells among investors and regulatory bodies alike.
The company’s executives, including Lee, faced accusations of siphoning off nearly $826 million from their customers. South Korean prosecutors arrested the three executives in February 2024, charging them with misappropriating customer funds through risky investments and misleading advertising that promised “risk-free diversified investment techniques.” Lee was released from arrest in July, just before the trial commenced.
Escalating Threats In The Crypto World
This incident highlights a disturbing trend in the cryptocurrency realm: the shift from cyber to physical attacks. While digital heists have long been a concern, recent months have seen a rise in violent confrontations linked to crypto assets.
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On August 4, a group of four Chinese nationals forcibly extracted $2 million in cryptocurrency from a victim in Thailand. The previous month, a Kyiv resident was kidnapped and coerced into transferring 3 Bitcoins before being strangled. In London, three armed men used machetes to force a homeowner to transfer 1,000 Ether, though the victim escaped unscathed.
As the cryptocurrency landscape continues to evolve, the blend of digital and physical threats poses new challenges for investors and authorities alike. The Haru Invest case serves as a stark reminder of the real-world consequences of financial misconduct in the crypto industry.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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