One of South Korea’s largest crypto lending firms happydelio has halted certain interest payments on its platform and warns it could face difficulties after the entirety of its assets were seized by regulators last week.
As a result of the recent suspension of digital asset deposits and withdrawals at Haru Invest, there has been a rapid surge in market volatility and a state of perplexity among investors.June 15, 2023
Three days later on June 17, Delio CEO Jung Sang-ho explained that the firm would resume withdrawals, but did not provide any timeline for when full functionality would return to the platform. On June 27, the company reopened withdrawals for some of its staking services.from Digital Asset, the move has not stopped the FSC launching an investigation into and later suing Delio based on the abrupt suspension of withdrawals.
Founded in 2018, Delio is one of South Korea's largest crypto lending platforms, offering a wide range of custody, lending and staking services. According to the firm’s website, it holds approximately $1 billion in Bitcoin (
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