Haru Invest Drama: Korean Court Upholds 5-Year Sentence in CEO Stabbing

Key Points

1. On August 28, 2024, the CEO of Haru Invest was stabbed in court by a man identified as Kang during a trial for embezzling 1.4 trillion won ($1.02 billion).

2. The Seoul High Court upheld the five-year prison sentence for Kang after an appeal, reinforcing the legal consequences of such violent acts.

3. Haru Invest, a crypto deposit service, faced allegations of fraud after abruptly halting withdrawals in June 2023, leading to significant investor losses.

4. The incident underscores the need for stronger investor protection and due diligence in the crypto industry.

5. The case reflects broader challenges in South Korea's crypto ecosystem, including regulatory scrutiny and security concerns in legal proceedings.