Hugo Hyungsoo Lee, CEO of South Korean crypto firm Haru Invest, was stabbed multiple times in the neck during court proceedings in Seoul.
The incident occurred during the trial of Haru Invest, where three company executives are accused of embezzling nearly 1.1 trillion won ($830 million) in cryptocurrencies, from around 16,000 customers.
The attacker, who identified as a man in his 40s and a victim of Haru Invest, lunged at Lee with a small knife while seated in the courtroom. Lee was immediately taken to the hospital for medical attention.
Haru Invest suspended withdrawals on June 13, 2023. South Korean prosecutors have charged three Haru Invest executives with stealing digital assets and misleading customers by falsely claiming to operate a stable business.
Lee was investigated for suspending deposits and withdrawals in June 2024 and released from arrest in July, ahead of the trial.
According to the prosecution’s claims, the executives of Haru Invest misappropriated the coins deposited by their customers. This was done by reinvesting the assets from March 2020 to June 2023, contrary to the firm’s claims of using “risk-free diversified investment techniques” for operating a stable business.
The arrest came in the wake of Haru Invest’s latest announcement, which stated there were “no particular updates to share this week,” a message signed by the CEO, Hugo Lee. The platform’s issues were further compounded when Delio, a depository and management company involved with Haru Invest, also ceased withdrawals the following day.
Rise in physical attacks linked to crypto crimes
Physical attacks related to cryptocurrency are becoming more frequent as crimes shift from cyber to direct threats.
On August 4, a gang of four Chinese nationals broke into a gated estate in Thailand and forced a victim to transfer $2 million worth of cryptocurrency at gunpoint. In July, four men kidnapped a foreigner in Kyiv, Ukraine, known to hold Bitcoin, and forced him to transfer three Bitcoins before strangling him.
Another incident occurred in London on June 17, when three armed men invaded a home with machetes, compelling the owner to transfer 1,000 Ether, valued at over $2.5 million.
