Yield platform Haru Investment has fired 100 employees as it seeks to recover funds amid a lawsuit against service provider B&S Holdings.

The firm’s CEO, Hugo Lee, said Haru’s 100 layoffs come amid dwindling chances of full recovery while legal disputes mount.

Haru Layoffs Includes PR Staff

BeInCrypto’s request for comment from Haru’s public relations team was met with the following automated reply:

We have all been laid off. Please contact the company directly for your content.

The firm first announced plans to slim down its operations on June 22. Earlier, it sued service provider B&S for fraud, embezzlement, and other crimes that forced the pausing of withdrawals last week.

On June 13, the firm cited an issue with a business partner at the time but didn’t reveal additional details.

Haru’s Wallet product offers a 6% return, while the Earn Plus account offers 12% for Bitcoin (BTC), Ripple XRP, Ethereum ETH, and USDC investments.

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Author: David Thomas

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