Haru Invest Crypto Firm Suspends Servers to Reduce Maintenance Costs

cryptonews.com:

Crypto yields platform Haru Invest has revealed plans to suspend its server as a cost-saving measure amid a fallout with one of its service partners. 

This new development comes a few months after the company suspended deposits and withdrawals in June 2023. 

The company's CEO, Hugo Lee, made the announcement in an official post.

According to Lee, Haru Invest is exploring multiple strategies to decrease operational expenses. 

These expenses border on various fixed costs. It includes the upkeep of Haru Invest services, office space expenditures, and the costs associated with user communication, including translation and individual emails.

In light of this, Lee expressed the commitment of the company to further lower these expenses to preserve as much of its assets as possible, which will eventually be distributed to the members.

While Haru Invest anticipates ongoing communication costs with customers until the asset distribution takes place, the exact timeline for this distribution remains uncertain. As such, the company's priority is to minimize overall expenses.

However, Lee emphasized that server maintenance expenses constitute the largest portion of Haru Invest's fixed costs, making it a top priority for the company. 

Consequently, there is a planned temporary service suspension in a few weeks, with preparations underway to back up all member information, including asset data, in anticipation of future asset distribution plans.

However, Lee pointed out that specific plans in this regard are yet to be finalized, and they will provide further updates to clients as the situation becomes clearer.

With its headquarters in Singapore, Haru Invest operates as a centralized financial digital asset management platform. 

The cryptocurrency