The South Korean crypto lending platform Delio has announced that it is suspending withdrawals following “confusion” caused by the halting of services at fellow Korea-based Haru Invest yesterday.
On 13 June, Haru halted transactions to protect investors after a business error. Delio say that this has now caused a “sharp increase in market volatility and increased confusion among investors”.
Delio add: “In this situation, in order to safely protect the assets of customers currently in custody, Delio will inevitably suspend withdrawals temporarily as of June 14, 2023, 18:30, until the above situation and its aftermath are resolved.
“We are very sorry for causing concern to our valued customers and investors due to the unavoidable temporary suspension of withdrawals. Delio will do our best to protect the assets of our customers while quickly grasping the facts and aftermath related to this situation.
“We will continue to inform you through announcements regarding the facts to be identified later, protection of customers’ assets, and measures for this.”
According to the Delio website, the platform oversees more than $1billion in digital assets, including Bitcoin, Ethereum, and other altcoins.
