On August 28, 2024, Hugo Hyungsoo Lee, CEO of Haru Invest, was stabbed in the neck during a court appearance related to a fraud trial.

Security personnel quickly intervened to apprehend Kang, preventing further injuries.

The company has been accused of misleadingly promoting a risk-free investment strategy while mismanaging customer deposits.

In response to ongoing issues in the cryptocurrency sector, South Korea's National Assembly passed the Virtual Asset User Protection Act to enhance protections for digital asset users.

This stabbing incident is part of a worrying trend of physical attacks linked to cryptocurrency, highlighting the risks faced by investors.

The troubles at Haru Invest have prompted investigations into other South Korean crypto platforms, reflecting broader concerns within the industry.

This attack occurred while Lee was facing allegations that he and three senior executives embezzled approximately $826 million in cryptocurrency from around 16,000 users.

The assailant, identified as 51-year-old Mr. Kang, reportedly smuggled a small knife into the courtroom and attacked Lee while he was on the stand.

Lee sustained non-life-threatening injuries and was promptly taken to a hospital for treatment, while Kang was arrested on charges of attempted murder.

The incident unfolded during the eighth session of Lee's trial at the Seoul Southern District Court, causing chaos and severe bleeding in the courtroom.

Reports suggest that Kang may have been motivated by frustration and fear stemming from being a victim of the Haru Invest scam.

Haru Invest previously promised high returns of up to 16% but suspended withdrawals and closed its office in June 2023 due to financial troubles.