Wimix's Second De-listed Action, What's Your Future Outlook?
May 06, 2025
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The Digital Asset Exchange Joint Council (DAXA) designated WeMix as a transaction-related item, saying that the WeMix Foundation informed investors of the 9 billion won hacking incident at the end of February and caused damage four days later, and then announced that it would stop supporting the transaction on the 2nd after two months of discussion. Currently, WeMix is listed in Bithumb, Coinone, Covit, and Gopax, excluding Upbit, the largest exchange in Korea, and the transaction will end at 3 p.m. on June 2 due to DAXA's decision. In terms of the stock market, it is a kind of delisting, and if the won transaction ends, WeMix is expected to suffer a serious blow to the overall blockchain project and web3 game development and services as it becomes more difficult to monetize.
Due to DAXA's announcement, WMIX's price has rebounded to the 700 won range since plunging 70% from 1,340 won to the lowest 401 won on the 2nd, and remains in the 500 won range as of the 6th. WeMade's stock price also plunged 17.45% on the 2nd, and its affiliate WeMade Max's stock price also fell 14%.
In response, the WeMix Foundation held an emergency press conference on the 3rd and strongly protested, saying it would file an injunction lawsuit. Kim Seok-hwan, president of the WMIX Foundation, sincerely explained to DAXA on this day, but we are very sorry that this result came out and cannot understand itEven though it is a private organization, the DAXA exercises too much power to decide and abolish the listing. We do not disclose the decision-making process and standards in a transparent manner."
CEO Kim then asked the police to investigate from the first day of the incident and began a joint response with external security companies. In addition, as requested by DAXA, security vulnerabilities and penetration routes were checked by a consulting firm certified by the Korea Internet & Security Agency"The nation's leading IT companies are now suffering from hacking, and so are government agencies. This time, there is a compelling reason for hacking." He was delisted from Korea in 2022 due to the issue of disclosure of WMIX's distribution volume, and this case was different from that time.
At the same time, CEO Kim expressed his willingness to continue operating the WeMix project. CEO Kim said "WeMade Group has been in the blockchain business since 2018, and more than 300 people are still employed.""We are still carrying out our business with a high regard for the importance of the global market, and we are also looking for opportunities to attract investment." The foundation in Singapore is also trying to set up a spot for investors around the world this year."
WeMade has achieved considerable success by installing the WeMix ecosystem in global versions such as 'Mir M' and 'Mir4' and 'Night Crow' developed with 'Mir', and 'Legend of Imir', which was released this year, is also continuing its global version, incorporating its own development and publishing works into the blockchain ecosystem.
The WeMix Foundation announced that it will push for additional listing on overseas exchanges at the same time as legal measures through applications for provisional injunction.
This article was translated by Naver AI translator.
