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Delio Halts Withdrawals As Funds Stuck In Haru
Delio, a Korean crypto lending service, has suspended withdrawals till further notice.
Delio blamed the halt on crypto investment firm Haru, according to an update on its website. Haru, which paid out up to 12% on its Earn Plus programme, suspended deposits and withdrawals on June 13, claiming an unspecified issue with one of its service suppliers.
According to Delio CEO Jung Sang-ho, the problem was triggered by a surge in withdrawals following Haru’s service suspension. According to Block Media, Jung revealed that he had a transactional relationship with Haru but refused to reveal the amount.
Delio provides loan and borrowing services, with advertised returns of up to 10.7%. During its time of existence, the business is said to have processed 41,700 bitcoin, 118,000 ether, and $6.2 million in altcoins.
(With inputs from Shikha Singh)
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