South Korean Crypto CEO Stabbed Multiple Times During Fraud Trial

Hugo Hyungsoo Lee, the CEO of South Korean crypto-earning platform Haru Invest, was brutally attacked during a court hearing in Seoul. The attack took place in the Seoul Southern District Court, where Lee was seated at the defendant’s bench. Lee along with other executives, is accused of embezzling $826 million in cryptocurrency from approximately 16,000 users.

According to Cointelegraph, the assailant, a man in his 40s, was one of the victims of the alleged fraud by Haru Invest. The man, who had been attending the trial as an observer, suddenly sprang from his seat and attempted to stab Lee multiple times in the neck with a small knife.

Courtroom security quickly intervened, preventing further injury, and the attacker was subdued and arrested on the spot. Despite the swift action, Lee sustained multiple stab wounds to his neck and was immediately rushed to a nearby hospital for emergency treatment. The severity of his injuries and his current condition have not been .revealed

This attack comes amid an intense legal battle surrounding Haru Invest. The company, which promoted itself as a high-yield crypto investment platform, came under scrutiny after it abruptly suspended deposits and withdrawals in June 2023. This led to panic among its users, many of whom had entrusted their life savings to the platform, lured by promises of substantial returns.

In February 2024, South Korean prosecutors charged Lee and two other executives with embezzling nearly $826 million from the company’s users. The accusations include misrepresenting the company’s investment strategies and misleading customers with false advertising about the safety and profitability of their investments. The country’s financial authorities are expected to introduce stricter regulations on virtual asset trading and token listings to prevent similar incidents in the future.