Delio collapse — what creditors were owed and recovered (2023)

Delio was a South Korean virtual asset deposit platform that described itself as a digital asset bank, taking Bitcoin, Ether and other coins and paying advertised annual yields of roughly 12 to 15 percent. It suspended customer withdrawals on 14 June 2023, one day after Haru Invest froze its own platform. Part of Delio's reserves had been placed with Haru, and the company also had exposure it could not recover after the FTX bankruptcy. The service shut down entirely that August after it failed to obtain court approval for operating costs.

Prosecutors alleged Delio took about 245 to 250 billion won in virtual assets from roughly 2,800 depositors between August 2021 and June 2023, reported as about US$175.6 million. Some outlets have published a figure of US$1.75 billion for the same 245 billion won; that is an order-of-magnitude conversion error, since the same reporting values 70 billion won at US$49.2 million.

The Seoul Rehabilitation Court declared Delio bankrupt on 22 November 2024, finding it insolvent. On 13 August 2026 the Seoul Southern District Court sentenced chief executive Jeong Sang-ho to 15 years. The court threw out the principal indictment after ruling that electronic evidence seized from Delio's hosting provider was unlawfully obtained, and convicted him on narrower charges covering about 70 billion won and 1,100 victims.