South Korean virtual asset deposit platform Delio was declared bankrupt by a court in Seoul on Nov. 22, according to multiple local press reports. Delio, which owes customers 245 billion won ($1.75 billion), halted withdrawals last year.
Some hope of making customers whole
Delio will begin liquidation proceedings. Customers can make claims through Feb. 21, 2025, and the first creditors’ meeting will be held on March 19, 2025. Reports quote a court official as saying:
“The debtor leased and entrusted the management of customer-deposit virtual assets to the management company, but a large part of it was deposited and managed in the FTX account.”
As a result, the platform was unable to recover its assets after the November 2022…
