Haru Invest CEO Attacked During South Korea Court Trial

• Haru Invest CEO was stabbed in court by an investor during a $826M crypto fraud trial.
• The attack occurred as Lee faced charges of defrauding 16,000 investors out of $826 million.
• This incident highlights growing tensions amid rising crypto fraud cases in South Korea.

In a shocking incident at the Seoul Southern District Court, Haru Invest CEO Hyungsoo Lee was violently attacked by an enraged investor during a trial on Wednesday. As per a local news media report, the attacker, identified as Kang, reportedly stabbed Lee multiple times in the neck with a 20-centimeter knife. This attack underscores the intense emotions surrounding the $826 million crypto fraud case in which Lee is a central figure.

Lee was seated at the defendant’s bench when the attack occurred. Kang, one of the 16,000 investors who lost money in the alleged scam, was among six people present in the courtroom. Security personnel acted quickly to subdue Kang and prevent further violence. Lee was rushed to Korea University Guro Hospital for emergency treatment, but his current condition remains unclear.

The incident highlights the desperation and anger felt by many victims of the Haru Invest scandal. The company, once a promising platform, is accused of defrauding investors out of 1.1 trillion won (approximately $826 million) between March 2020 and June 2023. Haru executives, including Lee, allegedly misappropriated these funds while promoting what they claimed were “risk-free, diversified investment strategies.”

Lee was arrested in February 2024, along with two other top executives, by the Joint Investigation Team of Virtual Asset Crimes of the Seoul Southern District Prosecutors’ Office. In July 2023, after being released on bail, Lee was indicted on charges of fraud under the Aggravated Punishment Act for Specific Economic Crimes. The trial, which began shortly thereafter, has been closely watched as it unfolds against the backdrop of a rising tide of crypto-related fraud cases in South Korea.

This trial is being closely watched, as it is part of a broader crackdown on cryptocurrency fraud in South Korea. The country has seen a surge in such cases, with the Haru Invest scandal being one of the most prominent.

The attack on Lee in the courtroom is a stark reminder of the high stakes involved and the intense emotions of those who have lost their life savings in these schemes. As the trial continues, the outcome would likely have significant implications for the regulation and oversight of the cryptocurrency market in South Korea.