According to local report, South Korean crypto lending platform Delio has been declared bankrupt. Delio, which owes its customers approximately 245 billion won ($1.75 billion), halted withdrawals in mid-2023, leaving about 2,800 customers unable to access their funds.
Court has ordered Delio’s liquidation following FTX’s collapse
A Seoul court has ordered liquidation proceedings for Delio, offering a glimmer of hope for affected customers. Creditors can file claims until February 21, 2025, with the first creditors’ meeting scheduled for March 19, 2025.
A court official reportedly stated:
The debtor leased and entrusted the management of customer-deposit virtual assets to the management company, but a large part of it…
