Due to the suspension of withdrawals by Haru Invest, Korean cryptocurrency lending company Delio has also suspended withdrawals.

Delio, a South Korean cryptocurrency lending company, has suspended withdrawals following the suspension of withdrawals by Haru Invest.

According to The Block, South Korean crypto lending company Delio announced today that it will suspend withdrawals. According to the Korean Economic Daily citing Block Media, Delio CEO Jung Sang-ho stated that Delio has a trading relationship with Haru, but did not disclose the amount. Digital asset management platform Haru Invest announced on June 13 that due to a trustee providing suspected false information, in order to protect the assets of the trustees, any deposit and withdrawal requests will be suspended from 0:40 on June 13 (UTC) until further notice.

Delio is the largest asset mortgage and lending platform in South Korea. Delio has announced the suspension of withdrawals due to its partner, Haru Investment, suspending withdrawals. According to previous reports, Haru Invest claims to be an automatic arbitrage platform that can provide a 12% annualized APY for BTC/ETH/USDT. This may explain why Delio can offer up to 10.7% BTC annualized APY. Does this sound like the South Korean version of Plustoken?

Reference: https://www.theblock.co/post/234638/korean-crypto-lending-service-delio-halts-withdrawals-due-to-funds-stuck-in-haru