Troubled Crypto Platform Haru Invest Plans to Suspend Server
Haru Invest, a cryptocurrency platform that halted withdrawals in June 2023, is now considering suspending its server to reduce maintenance costs. CEO Hugo Lee announced the plan on October 16, highlighting that server maintenance accounts for a significant portion of fixed costs at Haru Invest. While the firm has yet to finalize its plans for the server suspension, it intends to back up all member information before taking any action.
Lowering Operating Expenditures
Haru Invest is actively devising strategies to lower its operating costs, including expenses associated with maintaining its services, office space, and communication with members. The aim is to preserve as many company assets as possible. Additionally, these assets will be distributed to users who have been unable to access their funds since June.
Discontent in the Community
The news of the server suspension has sparked discontent among Haru Invest users. Some argue that server maintenance costs are unlikely to be exorbitant for the firm. Critics on Telegram channels have sarcastically commented on the perceived high costs, stating that server expenses typically range from $35 to $500 per month for small to medium-sized businesses.
Past Issues and Lawsuits
Earlier this year, Haru Invest terminated deposits and withdrawals, closed its offices, and laid off employees due to issues allegedly caused by fraudulent activity from consignment operator B&S Holdings (formerly known as Aventus). The company has faced accusations of orchestrating a “rug pull” but has denied these claims. CEO Hugo Lee appeared in court in September regarding the company’s rehabilitation application and stated that efforts were being made to recover users’ assets.
Hot Take: Uncertainty Surrounds Haru Invest’s Future
Haru Invest’s decision to suspend its server raises questions about the platform’s future and the fate of users’ funds. While the company aims to reduce costs and preserve assets, discontent within the community suggests a lack of transparency and trust. The ongoing class-action lawsuit against Haru Invest and Delio further adds to the uncertainty surrounding the platform. As the situation unfolds, investors are left waiting for updates on fund recovery and hoping for a resolution that addresses their concerns.
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