Hugo Hyungsoo Lee, the CEO of South Korean crypto firm Haru Invest, was violently attacked and stabbed in the neck multiple times during a court hearing in Seoul. The shocking incident occurred during the ongoing trial, where Haru Invest executives are accused of embezzling $826 million in cryptocurrency from around 16,000 users.
The attacker, a man in his 40s, reportedly one of Haru Invest’s victims, suddenly lunged at Lee with a small knife from the guest seat. Local media outlet Digital Asset reported that Lee was immediately rushed to the hospital following the assault. The courtroom attack adds another layer of drama to an already high-profile case involving significant financial losses for thousands of crypto investors.
The Haru Invest Fraud Case: Key Details
Haru Invest, a South Korean crypto-earning company, came under intense scrutiny after abruptly suspending withdrawals on June 13, 2023. The following day, Delio, a depository and management company with funds held at Haru Invest, also halted withdrawals, amplifying concerns among investors.
In February 2024, South Korean prosecutors arrested three top executives from Haru Invest, including Lee, on charges of stealing approximately $826 million worth of digital assets from their users. The prosecution alleges that from March 2020 to June 2023, these executives misappropriated customer deposits by reinvesting them, despite advertising the company as operating a stable and risk-free business. Lee has been under investigation as part of the broader fraud case, which has captivated the crypto community and beyond.
Also Read: New Zealand Introduces OECD Crypto Reporting Framework
Crypto Crimes: Escalation from Cyber to Physical Attacks
While cyber-attacks and hacks have long been the primary concern for cryptocurrency holders, recent incidents highlight an alarming rise in physical attacks related to digital assets. The stabbing of Lee follows a series of violent crimes targeting crypto owners worldwide.
On August 4, four Chinese nationals in Pathum Thani, Thailand, forced a victim at gunpoint to transfer $2 million worth of cryptocurrency after breaking into a luxury estate. Just weeks earlier, in Kyiv, Ukraine, four men kidnapped a Bitcoin holder, forcing him to transfer his 3 Bitcoin before strangling him. Similarly, on June 17 in London, three armed men wielding machetes invaded a home, coercing the owner to transfer 1,000 Ether worth over $2.5 million. Fortunately, the victim in this case was unharmed.
These incidents underscore the growing risks that crypto holders face, not just from digital threats but also from physical violence, as criminals increasingly seek to exploit the lucrative world of digital currencies.
