Delio Platform Goes Bankrupt With $1.75B in Assets Lost
On November 22, a court in Seoul declared Delio platform, a South Korean virtual asset deposit platform, insolvent, according to numerous local press reports. Last year, Delio suspended withdrawals due to its outstanding debt of 245 billion won ($1.75 billion) to its customers. Delio says there is possibility of resolving customer issues The platform will […]
‘User Deposits Were not Principal Protected’ – Delio CEO
The CEO of South Korean crypto yield platform Delio, Jung Sang-ho, has publicly stated that user deposits were not “principal protected” when they transferred their assets to the platform. Jung informed the audience during the second hearing of the first criminal trial, which took place on June 25 at the Seoul Southern District Court, as […]
Bitcoin Lender Delio Plans to Sue South Korean Regulators
According to reports, South Korean Bitcoin lender Delio is preparing an administrative lawsuit against regulators for incorrectly interpreting the law, which resulted in an investigation and hefty sanctions against the cryptocurrency lender. Accusations of fraud and misappropriation by the Financial Service Committee (FSC) have been refuted by Bitcoin lender Delio, according to a report in […]
Delio Admits to Losing Millions After Suspending $67.95M Deposits
Delio, a South Korean crypto-finance platform, has disclosed its deposit figures and loss projections for the first time since it halted withdrawal services in June. The company faces a challenging situation as it tries to recover from the losses and compensate its users. According to a statement from Delio, the platform’s deposits stand at approximately […]
Crypto Lending Firm Delio Under Investigation by Regulators
The Financial Services Commission (FSC) of South Korea is currently investigating Delio, a cryptocurrency loan company, as of June 30th. Before suspending transactions earlier this month, Delio claimed it had no affiliation with Haru Invest, a struggling lending firm. The Commission accuses Delio of committing fraud, embezzlement, and breaching trust by unilaterally halting user deposits […]