The knife attack on Haru Invest CEO Lee, which took place on the 28th at Seoul Southern District Court in Yangcheon-gu, has become a tragic event highlighting the deep despair of cryptocurrency investment victims. Haru Invest, a cryptocurrency investment service, halted withdrawals and closed its headquarters on June 13, 2023, leaving many investors with massive financial losses.
The 50-year-old man, identified as Mr. A, who carried out the attack, was revealed to be a victim who had deposited about 100 Bitcoins, worth approximately 8 billion won (about 80 million USD), in Haru Invest. This incident showcases the explosive anger of a person who had suffered extreme stress and financial loss due to the company’s collapse. Many other victims have echoed that this tragedy was long anticipated, as numerous individuals affected by the Haru Invest rug-pull have been living in despair day by day. Some have even taken extreme measures.
Mr. A attacked CEO Lee with a knife while he was on trial, and Lee was transported to the hospital for treatment. During police questioning, Mr. A stated that he committed the crime out of frustration over the halted withdrawals.
Another victim, identified as Mr. B, testified that Mr. A had always been a quiet and gentle person, explaining that the attack was a reflection of the deep despair Mr. A had been feeling. Mr. B said, “With the delayed trials and the lack of any information provided to the victims during the investigation, every day must have felt like hell for him.” He added that Mr. A had been saying things like, “My life is over, and I don’t think they will ever return the money,” for some time before the incident.
Victims of the Haru Invest scandal have expressed strong dissatisfaction with the judiciary and investigative authorities’ passive approach. Multiple requests to view the case files have been denied, leaving the victims in the dark about the progress of the investigation and the trial. Some victims have had to rely on each other to track down updates on the case, struggling to understand the full scope of the situation.
Experts point out that the investigation may take time, as cryptocurrency-related fraud cases are relatively new. However, they stress the need to share at least minimal information with the victims. The CEO of Haru Invest, Lee, and Bang, the majority shareholder of Haru Invest’s partner company B&S Holdings, are on trial for allegedly swindling approximately 1.3944 trillion won (about 1 billion USD) in assets from their customers. Despite this, the company’s executives have remained silent about any repayment plans and continue to stand trial out of custody after being released on bail.
This case has caused significant social unrest, extending far beyond mere financial loss. The victims’ despair stems not only from the loss of their money but also from their sense of helplessness and anxiety, exacerbated by the lack of protection and information provided throughout the legal and investigative processes. Experts emphasize the need for greater transparency in criminal proceedings to prevent acts of personal revenge, and they call for more active intervention from the judiciary and law enforcement.
