Dear Haru Invest Members,


We would like to share the progress and updates made so far.

First of all, individual users are reaching out to us via emails with questions. We apologize for not being able to accommodate all your inquiries at this moment as we currently have limited resources. But please be advised that most of our answers to your questions are included in the FAQ of our regular email updates.

We know that our customers are dealing with many difficulties and also have concerns over how things are unfolding. However, as we have continuously emphasized before that although the progress is moving slowly, Haru Invest and I are doing our best we can to sort out the situation and keep you transparently informed.


1. Investigation into B&S holdings: since we learned though the media that seizure and search were conducted on B&S holdings, there have been no additional updates shared with us so far. But we believe that the official authorities are taking steps to proceed with the investigation into B&S holdings after the seizure and search, so we are taking steps to make a necessary preparation to fully cooperate to the investigation in a timely manner.

2. Recovery of assets: we are in the process of recovering assets from external asset managing partners. We are on schedule based on our initial recovery plan and there are no specific updates to share at this point. However, loss may occur when the assets are returned too quickly and if this is the case, we will focus on loss minimization.

3. Sale of company’s assets and distribution process: this is in progress as scheduled but preservative measures have been taken in the rehabilitation process raised by some users and it is difficult to proceed with the sale/distribution until this is settled. Nevertheless, we will do our best to start the sale and distribution as scheduled by efficiently responding to the rehabilitation process.

In addition, we have summarized some of the questions we have received through various channels in the FAQ below.



Q1. Do you have a specific timeline for customer asset distribution? Also, in which currency will the assets be distributed?

> A specific timeline and the type of currency for asset distribution can be determined after we finalize the size of customer assets and the scope/schedule of asset recovery.

> Currently, it is taking time to organize the database containing extensive data of each customer such as deposit and withdrawal in five different cryptocurrencies (BTC, ETH, USDT, XRP, USDC) as well as Switch, Products, Earning, Freeze, and other services in use.

> Preservative measures have been taken in the rehabilitation process raised by some users and it is difficult to proceed with the sale and distribution until this is settled but Haru Invest and I are making every effort so that we can start asset distribution as early as possible.


Q2. What are the exact types and size of the company assets mentioned in the announcement?

> Our plan is to liquidate all assets owned by the company across several phases. However, the exact timing of the asset liquidation has not been determined and we are unable to share the asset size for the time being. We anticipate that the liquidated company assets will be distributed in several phases after the plan for customer asset distribution is established.


Q3. I lost my Google OTP and cannot log into the app. Can I use my ID card as a verification to log into the app as I did before?

> Haru Invest is currently operating with minimal costs. Thus, we are unable to accommodate customer service inquiries of individual users at this moment. Once we finalize the customer credits and debits database and establish the asset distribution timeline, we plan to update you on how to check your assets. We ask for your understanding and patience in the meantime.


Q4. Can I withdraw assets in my Haru Wallet? In addition, will my losses be greater or smaller depending on when I made the deposit?

> As previously communicated, all operations at Haru Invest have been suspended. We will share more details on this question once we complete the customer credits and debits database and confirm the asset distribution timeline.


Q5. A particular customer group is said to bring criminal charges as well a civil action against Haru Invest in order to gain the upper hand in negotiation. I’m concerned that this may have a negative impact on other customers.

> As for asset distribution, Haru Invest and I firmly believe that ‘every customer, regardless of his or her affiliation with a particular group (communication representative group or class-action lawsuit group), is entitled to equal asset distribution’. We have shared this point through previous announcements, and we reiterate that such a stance will be the basis of our asset distribution policy.


Q6. Who are the customer representative groups? Are they given benefits from exclusive communication?

> I seek to have ‘fact-based’ communication ‘open to all customers equally’. We received a lot of questions through various channels after the B&S holding incident, and we unfortunately were unable to respond to all of your inquiries. It was partly because our limited staff had challenges servicing the users, but there had been suggestions that could potentially violate all customers’ right to equal information. In this sense, we currently communicate all updates with users through announcements. And questions raised by some customer representative groups are answered in our regular email updates to keep everyone informed.



For any additional questions, please email us and we will try to put them into FAQ so we can share them with other users.


Haru Invest

CEO Hugo Lee

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