SA crypto investment company Revix says it has had to freeze a quarter of its clients' crypto assets after one of its service providers abruptly halted withdrawals.

Fin24 reports that Revix, which is backed by JSE-listed investment group Sabvest, said South Korean company Haru Invest had blocked all crypto withdrawals earlier in the month.

Revix had invested 24% of the crypto assets of clients with Haru.

‘Given Haru Invest's unexpected halt on withdrawals, we have no alternative but to render 24% of crypto asset balances held on the Revix platform … as reserved,’ Revix said in an update posted to its website.

‘This reserved status means that these assets are untradeable and non-withdrawable until we have further information from Haru.’

All other customer assets can still be traded, it said.

Revix, which has offices in Cape Town and London, said it is engaging with Haru Invest to establish what happened.

Full Fin24 report