Delio, a South Korean crypto loan startup, is allegedly concerned about its ability to continue providing normal services to consumers after having its assets seized by a local financial authority.
Delio said in a July 22 blog post translated from Korean that the South Korean Financial Services Commission seized “all assets owned by customers and the company, as well as other cold wallets and ledgers” as a result of an ongoing legal battle with depositors and a July 18 search and seizure of the company’s assets.
Delio noted that the firm’s recent activities have made it harder to deliver standard services.
According to the report, Delio stopped paying interest to its deposit and vault customers on July 24.
