Lee Hyung-soo, the CEO of Haru Invest, was acquitted by a South Korean court on June 17, 2025, of $650 million fraud charges. This decision may significantly influence the company's market position.
Charges and Acquittal
Lee Hyung-soo was accused of fraud involving $650 million; however, on June 17, 2025, the court ruled in his favor. This acquittal removes immediate legal obstacles for Haru Invest.
Consequences for Haru Invest
Haru Invest, a cryptocurrency platform, suspended withdrawals in 2023 amid allegations of misappropriating substantial funds. In addition to Lee Hyung-soo, COO Kang is entangled in legal proceedings and awaits sentencing. Following Lee's acquittal, Kang bears sole criminal liability, which may impact the company's reputation and customers who have already incurred losses in cryptocurrencies such as Bitcoin and Ethereum.
Possible Regulatory Changes
The conclusion of this court case raises questions about further regulation in the cryptocurrency sector. Although the outcome may influence the scrutiny of similar platforms, official decisions from regulatory bodies are still pending. Market participants are left to ponder how this might affect future regulations and legislative frameworks.
Lee Hyung-soo's acquittal could positively influence the stability of Haru Invest, yet lingering questions regarding internal governance and sector regulation remain and require ongoing examination.
