On November 20, the virtual asset custody platform Haru Invest was officially declared bankrupt by the Seoul Reorganization Court in South Korea on November 20 after it was suspected of cheating customers and taking away virtual assets worth about 1.40 trillion Korean won. The court said that although Haru Invest's operating company, Haru Management Limited, was registered in the British Virgin Islands, it had jurisdiction because it had offices and operations in South Korea. The court plans to hold the first meeting of creditors on February 11, 2025 to liquidate and distribute the company's assets through the bankruptcy administrator. It is reported that Haru Invest has attracted investors through false promises to protect principal and high yields since 2020, and suddenly stopped withdrawing cash in June last year, resulting in more than 16,000 investors were injured.