Troubled cryptocurrency platform Haru Invest plans to suspend its servers months after it stopped withdrawals in June 2023.
Haru Invest CEO Hugo Lee is considering shutting down its servers to reduce the service’s server maintenance costs declare On October 16, the CEO emphasized that server maintenance costs account for “the largest proportion of fixed costs” at Haru Invest and are the company’s top priority.
“We plan to suspend the service within a few weeks and back up all member information,” Li wrote in the announcement, adding that the company “does not have a clear plan yet” for the server suspension.
The server shutdown comes as Haru Invest said the company is “actively developing various strategies” to reduce all costs associated with operating its services, the company’s CEO said. “Some of the current fixed expenses include the maintenance of Haru Invest services, the cost of workspaces such as offices and the cost of communication with our members,” Lee pointed out.
The CEO claimed that Haru Invest intends to further reduce operating expenses in order to maintain the company’s assets as much as possible. He also promised that these assets would be added to those distributed to users whose funds have been stuck on the platform since June.
News of the suspension sparked some dissatisfaction in the Haru Invest community, with many users believing that server maintenance might not cost the company much.
One dissatisfied user said: “The server cost is not worth a penny” wrote Haru Invest’s Telegram channel has about 3,100 members.
Another Telegram commenter quipped: “Guys, the server will be gone soon, the cost is huge, $200 per month” famous.According to online resources, the maintenance costs of running servers for small and medium-sized enterprises scope Between $35 and $500 per month.
Lee’s announcement of the impending server suspension comes months after Haru Invest terminated deposits and withdrawals on June 13, 2023. The South Korean company subsequently closed its offices and laid off dozens of employees, local news agencies reported.
related: Bybit to suspend services in UK after financial regulator issues ‘final warning’
Haru Invest claims the issues on its platform were caused by fraudulent activity by consignment operator B&S Holdings (formerly Aventus). Some worried investors have accused the company of orchestrating a “pull”, but Haru Invest denies the accusations.
CEO Appeared Concerns over the company’s recent corporate reorganization filing were addressed in court in September. Lee said Haru Invest is working with investigative agencies to work out a timetable for recovering user assets. As of early October, Haru Invest had not provided any timetable for recovering the funds.
According to reports, Haru Invest Facing class action lawsuit Alongside South Korea’s major cryptocurrency platform Delio, disgruntled investors have accused the companies of “fraud”.
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