- June 17, 2023
- Posted by: [email protected]
- Category:
Delio, a virtual asset management and lending platform based in South Korea, has temporarily halted customer withdrawals as a precautionary measure to safeguard their assets. The decision was prompted by the recent suspension of digital asset deposits and withdrawals at Haru Invest, a similar entity. This suspension at Haru Invest has caused increased market volatility and confusion among investors in the region. Delio plans to maintain the withdrawal suspension until the situation and its consequences are fully resolved.
In an official announcement, Delio stated that the temporary withdrawal suspension is necessary to ensure the safety of customers’ assets under their custody. The announcement, issued in Korean and translated, indicated that the suspension would commence on June 14, 2023, at 18:30. Delio assured its clients that it would diligently investigate the situation and its aftermath while making efforts to protect their assets. They pledged to provide regular updates on the matter, including information about protective measures taken and any further developments.
The challenges faced by Haru Invest, which led to their deposit and withdrawal suspension, have the potential to affect other platforms in South Korea, including Delio. This has further heightened concerns within the industry and among investors. Delio, established in 2018, is known to hold significant amounts of various cryptocurrencies, including an estimated $1 billion worth of Bitcoin, $200 million worth of Ether, and approximately $8.1 billion worth of altcoins, as per data available on their website.
Given the circumstances, Delio is taking proactive measures to prioritize the safety and security of its customers’ assets. The temporary withdrawal suspension aims to mitigate potential risks and ensure a thorough resolution of the situation. The company remains committed to transparency and will keep its clients informed about the progress made in addressing the issue and implementing measures to protect their holdings.
