South Korean financial authorities and law enforcement agencies have launched a comprehensive cross-agency investigation into the nation’s cryptocurrency custody and lending sectors. This regulatory crackdown follows a series of high-profile service disruptions and withdrawal freezes at major firms such as Haru Invest and Delio, which resulted in significant losses for retail investors. The Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) stated that the probe will focus on the internal management practices of Virtual Asset Service Providers (VASPs), checking for potential embezzlement, breach of trust, and inadequate asset segregation. By mobilizing a joint task force, the South Korean government aims to establish stricter oversight mechanisms and restore market integrity in the wake of mounting distrust toward centralized digital asset platforms.
Source: South Korea orders cross-agency probe after repeated crypto custody failures
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