Haru Invest Freezes All Fiat and Crypto Withdrawal

In a shocking announcement, Haru Invest, a CeFi digital asset management platform that claims to offer up to 14% returns on crypto investments, has frozen all fiat and crypto withdrawal requests from its users. The company cited “technical issues” and “security breaches” as the reasons for the suspension but did not provide any further details or a timeline for resuming the service.

This news comes as a blow to the thousands of investors who trusted Haru Invest with their crypto assets, hoping to earn passive income through its automated platform. According to its website, Haru Invest has over 140+ countries in its user base and manages over $100 million worth of assets. The company also boasts a team of expert traders who use algorithmic trading strategies to optimize the returns.

Haru Invest is a service that provides automated crypto investing with optimal returns. It is powered by Haru, a company that has been operating since 2018 and has over 100,000 users in more than 140 countries. Haru Invest leverages the expertise of professional traders and market makers who use advanced strategies and algorithms to generate profits from the crypto market. Haru Invest also offers a swap feature that allows you to exchange your crypto assets with transparent pricing and strong security.

Haru Invest is very easy to use. All you need to do is sign up, deposit your crypto assets, and choose an investment plan. You can invest in Bitcoin (BTC), Ethereum (ETH), Tether (USDT), or TerraUSD (UST). There are two types of plans: Earn and Earn Plus. Earn plans have no lock-up period and offer daily interest payouts. Earn Plus plans have a lock-up period of 15 days or more and offer higher interest rates. You can withdraw your principal and interest at any time, with no fees or penalties.

However, with the latest freeze of digital assets on their platform, many users have expressed their frustration and anger over the sudden withdrawal freeze, which was announced on June 13th, 2023, without any prior notice or explanation. Some users have accused Haru Invest of being a scam or a Ponzi scheme, while others have demanded their money back as soon as possible.

Haru Invest, which is a subsidiary of Block Crafters, a blockchain company based in South Korea, has been operating since 2020 and claims to have over 100,000 users in 140+ countries. The platform offers various investment strategies based on algorithmic trading and staking, as well as a feature allowing users to swap cryptocurrencies. Haru Invest also claims to have a team of experts and partners in the crypto industry, such as BitGo, Chainalysis, Coinfirm, and Elliptic.

According to speculations, the withdrawal freeze is a necessary step to ensure the safety and stability of its platform and its users’ funds. The company says that it is facing unprecedented challenges due to the recent market crash, regulatory uncertainty, and cyberattacks. Some have accused the company of being a Ponzi scheme or an exit scam, while others have demanded proof of funds and audits from independent third parties. Some users have also reported that they have not received any interest payments or rewards for months, and that the customer support has been unresponsive or evasive.

Haru Invest has not issued any official statement or update since the announcement of the freeze, leaving its users in the dark and in fear of losing their funds. The company’s social media accounts have also been inactive or deleted, adding to the suspicion and frustration of the investors. The only communication channel that seems to be working is the email support, but users claim that they only receive generic and automated responses.

The situation is reminiscent of other crypto scams that have plagued the industry in the past, such as Bitconnect, QuadrigaCX, and Mt.Gox. These cases have shown that investing in crypto involves high risks and uncertainties, and that users are responsible for trusting on centralized platforms. Haru Invest’s business model, pointing out that the platform does not provide any proof of its trading performance or audited financial reports. Moreover, Haru Invest does not disclose its legal status or regulatory licenses in any jurisdiction, which raises questions about its compliance with anti-money laundering (AML) and consumer protection laws.

As of now, it is unclear when Haru Invest will resume its withdrawal services or how it will compensate its users for their losses. The platform has not issued any further updates or responses to the media inquiries. Meanwhile, some users have reported that they have filed complaints with their local authorities or initiated legal actions against Haru Invest.