Haru Invest, suspected of defrauding $1 billion, only had $36 million in virtual assets seized

It was reported that in a fraud case trial at a court in southern Seoul, South Korea, approximately 50 billion Korean won (approximately $36 million USD) worth of virtual assets were successfully confiscated from the digital asset management platform Haru Invest. Previously, during the court hearing, Haru Invest revealed that its client, the cryptocurrency custodian BS, suffered losses of up to 400 billion Korean won due to the FTX collapse event in November 2022. In June of last year, Haru Invest executives were accused of defrauding investors of over 1.4 trillion Korean won (approximately $1 billion USD) in cryptocurrency, and the company's CEO, Hugo Lee, was arrested in February of this year.