CoinDesk Korea, a Korean news outlet, reported that Haru Invest has terminated contracts with more than 100 employees . The platform suspended withdrawals and deposits in the first week of this month due to issues with service providers.

Due to recent events, it is difficult for the company to manage itself normally. “I made that decision”, CEO Lee Hyung Soo, reportedly stated on a video calling notifying Block Crafters employees of the changes.

According to the report, Friday will be the last day of employment for over 100 employees.

In a letter dated June 20, Lee stated that Haru Invest would be taking legal action “for fraud, theft, and other accusations” against renewable energy company B&S Holdings, adding that this company was “considered the root of the problem.”

The platform announced in a blog post on Wednesday that it would “minimize the operations of Haru Invest” and its affiliate companies, to avoid further damage that is likely to occur.

Lee said that employees worked from home to ensure their safety after the platform stopped withdrawals on Wednesday, June 13. CoinDesk Korea reported that after pausing withdrawals the firm closed its office and all company officials vanished.

Eunkwang Joo , former co-founder of Haru Invest and CTO , had said previously on Twitter : “Haru Invest has an internal situation. It is not a case where they are trying to pull a rug.”

Read more about South Korean Crypto Yield platform Haru Invest pausing withdrawals and deposits

Updated (June 22, 11 :42 UTC). Adds a legal action to the fourth paragraph and a blog post on Wednesday stating that it is minimizing operations.

Sheldon Reback is the editor.