South Korean crypto lending firm Delio under investigation by regulators By Cointelegraph

According to a report by local news outlet Digital Asset, South Korean crypto lending firm Delio is under investigation by the country’s Financial Services Commission (FSC) as of June 30. The FSC alleges fraud, embezzlement and breach of trust related to Delio’s unilateral decision to suspend users’ deposits and withdrawals on June 14.

During an extraordinary investors’ meeting on June 17, Delio CEO Jung Sang-ho explained that the firm would resume withdrawals, albeit with no fixed schedule at the time. On June 27, the company began opening withdrawals for a portion of its staking services.