Report: CEO of Haru Invest stabbed during fraud trial

The head of troubled South Korean crypto lender Haru Invest was reportedly attacked with a knife in the courtroom during a fraud trial.

The CEO of South Korean crypto yield platform Haru Invest, Hugo Hyungsoo Lee, was attacked with a knife in the courtroom during the ongoing fraud trial against him, South Korean media outlet Digital Asset reported on August 28, citing sources present at the trial.

The attack reportedly occurred in Seoul's Southern District Court, where Lee was sitting on the bench as a defendant. Lee had been under surveillance since Haru and Delio suspended deposits and withdrawals in June 2023. He was charged with fraud under South Korea's Act on the Enhanced Punishment of Certain Economic Crimes in February and released on bail in July.

Lee was sitting on the bench when a victim of the Haru incident, identified as “Kang,” attacked him with a concealed 2-inch knife. The attacker, who had been watching the trial, reportedly lunged at Lee and stabbed him multiple times in the neck. Courtroom security guards quickly intervened to subdue Kang.

After the attack, Lee was reportedly seen bleeding on the courtroom floor, which was covered in blood stains. Emergency services arrived shortly afterward and Lee was taken to a nearby hospital. His current condition is unknown. Kang was arrested at the scene and is now being investigated by police, the report said.

This incident follows recent developments in the Haru Invest case. In February 2024, South Korean prosecutors announced the arrest of three Haru executives, including the two co-CEOs. They are accused of embezzling around $826 million from around 16,000 users. The company is alleged to have misrepresented its investment practices and made misleading advertisements for its high-yield products.

Local authorities are also investigating Haru and Delio after both companies abruptly stopped withdrawals in June 2023. Haru Invest had claimed to manage deposits using risk-free techniques, but it turned out that most of the customer deposits were invested through a single person.