Deep Tide TechFlow News, on June 17, according to The Block, the Southern District Court of Seoul, South Korea announced that Haru Invest CEO Lee Kyung-soo was found not guilty of fraud charges. The company suddenly shut down its user withdrawal function in June 2023, reportedly causing losses of $650 million for approximately 6,000 investors. The court found that although there was negligence in company management, Lee Kyung-soo's actions did not meet the legal standards for fraud under criminal law. The court noted that the suspension of Haru's withdrawals was primarily related to the broader liquidity crisis triggered by the bankruptcy of FTX. The two co-CEOs of Haru's parent company Blockcrafters were also acquitted, but the company's chief operating officer was sentenced to two years in prison for embezzlement. The court emphasized that this ruling only exempts the defendants from criminal liability and does not affect their civil liabilities to the victims.