Crypto lender Delio to resume withdrawals after counterparty contagion By Cointelegraph
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According to a recent report by local news outlet Decenter, South Korean crypto lending platform Delio will resume withdrawals, albeit with no fixed schedule, after pausing them on June 14. In a meeting with investors on June 17, CEO Jung Sang-ho explained, “[Delio] will secure as much capital as possible to compensate” and that “users’ withdrawals would come in phases.” No details regarding the specific repayment period, method and amount of damage were disclosed, however.
Delio is one of South Korea’s largest crypto lending firms and claims to hold an estimated $1 billion in (BTC), $200 million in Ether (ETH) and approximately $8.1 billion in altcoins. The firm entrusted a sizable portion of clients’ funds to fellow South Korean crypto yield platform Haru Invest.
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© Reuters.
According to a recent report by local news outlet Decenter, South Korean crypto lending platform Delio will resume withdrawals, albeit with no fixed schedule, after pausing them on June 14. In a meeting with investors on June 17, CEO Jung Sang-ho explained, “[Delio] will secure as much capital as possible to compensate” and that “users’ withdrawals would come in phases.” No details regarding the specific repayment period, method and amount of damage were disclosed, however.
Delio is one of South Korea’s largest crypto lending firms and claims to hold an estimated $1 billion in (BTC), $200 million in Ether (ETH) and approximately $8.1 billion in altcoins. The firm entrusted a sizable portion of clients’ funds to fellow South Korean crypto yield platform Haru Invest.
Continue Reading on Coin Telegraph
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