Haru Invest, a troubled cryptocurrency platform, announced on October 16th that it will suspend its server in a few weeks after halting withdrawals in June 2023, in an effort to reduce maintenance costs. CEO Hugo Lee emphasized that these costs are their “largest percentage of fixed costs”.

The server suspension is part of a strategy to reduce all costs associated with operating the services, including workspace and communication with members. To maintain as much of the company’s assets as possible, the CEO promised to add them to those assets to be distributed to users who have had their money stuck on the platform since June.

The news has sparked some discontent in the Haru Invest community, with many users claiming that server maintenance costs are not as high as the company suggests. Online sources indicate that maintenance costs of running a server for a small to medium business range between $35 to $500 per month.

The server suspension follows the closure of the offices and firing of dozens of employees in June, when Haru Invest terminated deposits and withdrawals. The company blamed the issues on fraudulent activity of consignment operator B&S Holdings, formerly known as Aventus, denying accusations of a “rug pull”.

In September, Lee addressed concerns over the company’s recent corporate rehabilitation application in court and promised to cooperate with investigating agencies and to establish a timeline for recovering users’ assets. However, as of early October, Haru Invest has not provided any timeline.

The company is also facing a class-action lawsuit together with the major South Korean crypto platform Delio, with disgruntled investors accusing the companies of “fraud”.