Troubled South Korean crypto platform Haru Invest plans to suspend its server, with CEO Hugo Lee citing high maintenance costs.
After halting withdrawals in June 2023, Haru Invest is yet to come up with a timeline to repay its customers.
Haru Invest is thinking of shutting down its server in order to reduce the server maintenance costs of services, the company’s CEO Hugo Leeon Oct. 16. The CEO emphasized that the server maintenance cost accounts for the “largest percentage of fixed costs” at Haru Invest and is a priority for the firm.
The firm’s move to shut down the server comes as Haru Invest says it’s “actively devising various strategies” to lower all costs associated with operating its services, the CEO said. “Some of the current fixed expenditures include the upkeep of Haru Invest services, the cost of workspace like the office, and the cost of communication with our members,” Lee added.
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