On June 20, South Korean virtual asset management and lending platform Delio issued a notice to creditors, announcing plans to establish a new company to take over all its debts. Delio intends to sell its existing entities, including a virtual asset service provider (VASP), and use the proceeds from the sale to settle its financial obligations.
Currently, Delio is facing trial for allegedly stealing about 250 billion won (180 million dollars) cryptocurrency and abruptly stopping cryptocurrency withdrawals and withdrawals without prior notice. Industry experts have expressed doubts about the viability of Delio's strategy, suggesting the plan may have been designed to get a lighter sentence in the ongoing trial.
South Korean crypto finance firm Delio, suspected of stealing $180 million from users, plans to shift debt by setting up new company
2024-06-20 03:09:04
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