Why is Haru Invest involved in a 'rug pull' controversy?
Host: Reporter Jang Se-jin
Guest: Pureun “Ian” Hong, managing partner at Decent Law Firm
Q. Why did Haru Invest suspend deposits and withdrawals?
- Haru Invest offers a virtual asset deposit service.
- On the 13th, it temporarily suspended deposit and withdrawal services, stating "issues with a partner company."
Q. What is the current situation with Haru Invest?
- Haru Invest announced that "a problem occurred with a partner company," but did not disclose the name of the partner.
- "Investor anxiety is increasing."
Q. How does Haru Invest operate virtual asset management?
- Haru Invest offers high annual interest rates when investors deposit coins.
- It guarantees fixed profits to investors.
Q. Why does Haru Invest guarantee fixed profits?
- Haru Invest promised a 12% interest rate for Bitcoin deposits.
Q. Is guaranteeing high fixed returns legally problematic?
- If virtual assets are managed in various ways, high returns are possible.
- However, if there are losses in the management of deposited assets, paying the promised interest becomes impossible.
- Haru Invest offers significantly higher interest rates compared to traditional financial institutions.
Q. Is it possible for Haru Invest to guarantee such high fixed returns?
- Haru Invest conducts arbitrage trading using partner companies.
Q. Is Haru Invest involved in a 'rug pull' controversy, and is there suspicion of a Ponzi scheme?
- If Haru Invest uses funds from new investors to pay interest, it would be considered a Ponzi scheme.
Q. What is the Merge Point incident?
- The sale of Merge Money at a 20% discount was halted, leading to fraud charges.
- In the first trial, the court sentenced the defendants to 4 and 8 years in prison for embezzling funds for personal use.
- Merge Point's CEO, Jinhee Kwon, passed away, and the court dismissed the charges.
- Haru Invest is now being compared to the Merge Point scandal.
Q. How can Ponzi schemes be identified?
- Coupang, with its rocket delivery service, reduced deficits for the first time in history.
- Tesla overcame capital erosion and is currently experiencing its longest rally.
- Understanding the business’s revenue structure and vision is crucial in distinguishing a Ponzi scheme.
- "The basic principle is High Risk, High Return."
