Wemix, a cryptocurrency issued by Korean game publisher Wemade Co., will be delisted from major domestic crypto exchanges next month following a large-scale hacking incident. (Image from the company webpage)
SEOUL, May 2 (Korea Bizwire) — Wemix, a cryptocurrency issued by Korean game publisher Wemade Co., will be delisted from major domestic crypto exchanges next month following a large-scale hacking incident, exchange operators said Friday.
The Digital Asset eXchange Association (DAXA), an alliance of five major crypto exchanges — Upbit, Bithumb, Coinone, Korbit and Gopax — announced that the exchanges will terminate transaction support for Wemix, starting from June 2.
“Based on a comprehensive review on reliability of the issuer and security standards, we have decided to terminate trading support as it does not meet the criteria,” DAXA said in a statement.
Wemix, launched in 2020, serves as the gaming platform token for Wemade.
The delisting follows a cyberattack on the company’s server on Feb. 28, during which more than 8.65 million Wemix coins, worth 9 billion won (US$6.38 million) at the time, were illicitly withdrawn.
After the delisting announcement, the price of Wemix coins plummeted from 1,200 won (US$0.85) to 401 won Friday.
This will mark the second time Wemix has been removed from local exchanges. The token was previously delisted in 2022 and reinstated the following year.
Wemade said it plans to pursue listings on global cryptocurrency platforms in response to the domestic setback.
(Yonhap)
