Struggling Crypto Investment Platform Haru Considers Shutting Down Servers
The cryptocurrency yield investment platform Haru Invest (Haru) is considering shutting down its servers in order to reduce costs. The company is currently facing bankruptcy proceedings and wants to lower overhead costs so it can reimburse its customers.
Haru Delays Cutting Communication Costs
Hugo Lee, the CEO of Haru, has confirmed that the company will back up its server to avoid losing customer information. While the company plans to cut costs, it will keep critical communication systems in place to facilitate the transfer of customer assets.
“We expect to continuously incur the cost of communication with members until we distribute members’ assets (although it is difficult to predict when it will be), so our plan is that this should be the last item to save on.”
Lee also stated that customers will be informed when the cost-reduction plans become clearer. Earlier this year, Haru fired 100 employees in an effort to cover costs resulting from legal disputes.
Frustrated Haru Customers Fume at Delays
Haru customers have criticized the platform’s plan to reduce costs, arguing that it is pointless and will not expedite the recovery of customer funds. Some customers have come to terms with the fact that they may never see their money again.
“No one is getting any money back, at least not in 2 years, and not 100%.”
However, some remain hopeful that there is a chance for reimbursement if Haru’s situation is not as dire as other companies facing financial difficulties.
Communication Issues and Bankruptcy Roadmap
Many community members have expressed frustration with Haru’s infrequent communications, particularly since the suspension of withdrawals. CEO Hugo Lee has not provided a concrete roadmap for the company’s bankruptcy proceedings.
Under South Korea’s revised bankruptcy Act, the CEO has the authority to become the bankruptcy manager, which may further contribute to customer dissatisfaction.
Hot Take: Customers Await Clarity and Reimbursement
As Haru Invest considers shutting down its servers to cut costs, frustrated customers are left waiting for clarity and potential reimbursement. The company’s plan to reduce communication costs has been met with skepticism, as customers doubt its effectiveness in recovering their funds. With the lack of frequent and transparent communication from Haru’s CEO, customers are left uncertain about the future of their investments. As the bankruptcy proceedings continue, it remains to be seen whether Haru will be able to fulfill its obligations to its customers and provide them with the reimbursement they seek.
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