Cryptocurrency We come across very different developments in the field from time to time. Today’s incident is probably a first. South Korea’s cryptocurrency world was shaken by a shocking incident today. Haru Invest CEO Hugo Hyungsoo Lee was stabbed in the neck multiple times during a corruption case he attended. While the attacker was reported to be in his 50s by local media, it was learned that Lee was taken to the hospital immediately. Fortunately, it was reported that his injuries were not life-threatening.
Attacker Turns Out to Be a Former Customer of the Company
The attacker Haru InvestThe attack garnered a lot of attention not only because of the high stakes involved, but also because it came amid a renewed consumer protection law in South Korea. Lee was one of three executives arrested in February of this year in connection with the embezzlement of cryptocurrencies worth 1 trillion won. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
South Korea last year enacted the “Crypto Asset User Protection Act” to strengthen consumer protection laws. The law aims to increase market surveillance, regulate unfair trading activities and give the Financial Services Commission (FSC) broader powers. The laws were implemented after the Terra-Luna crash and FTXIt was prepared by learning from past events such as the bankruptcy of and aims to prevent users from losses in the crypto market.
What Does the Prosecutor’s Office Accuse Company Executives of?
The prosecution alleges that Haru Invest executives made misleading statements about how they managed deposits collected from approximately 16,000 customers between March 2020 and June 2023, and that they were operating stably using a diversified investment technique focused on risk. After June 2023, cryptocurrency withdrawals were stopped without any notice.
With this law FSCIt is expected that the market will be more effectively monitored and sanctions will be imposed on cryptocurrency service providers. It is also aimed to provide relief measures to victims. The attack has once again revealed how dangerous the lack of regulation in the cryptocurrency world can be. The fact that the attack did not result in a death was seen as important for the case to continue.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
