 |
Photo = Yonhap news |
[Alpha Biz= Paul Lee] The decision on whether to suspend trading of the cryptocurrency WEMIX, which is facing the risk of delisting due to a hacking incident, has been extended again. Bithumb, a member of the Digital Asset Exchange Alliance (DAXA), announced on the 18th that it would extend the "cautionary trading designation" for WEMIX.
DAXA, a consortium of five major South Korean cryptocurrency exchanges—GOPAX, Bithumb, Upbit, Korbit, and Coinone—said this decision applies to all exchanges where WEMIX is listed, including Bithumb, Coinone, Korbit, and GOPAX.
DAXA explained, "We are reviewing the facts and follow-up actions regarding the cautionary designation with the project team, and additional evaluations are ongoing." The group added that a decision on whether to extend, remove, or delist WEMIX will be announced in the first week of May (April 28 to May 2).
This is the second extension of the cautionary designation for WEMIX. The first extension was made just two weeks after it was initially designated as a cautionary trading item on March 18.
WEMIX is a cryptocurrency issued by Wemade, a South Korean gaming company, for use in its blockchain-based games. The WEMIX Foundation revealed on its website on April 4 that approximately 8.65 million WEMIX coins (worth around 9 billion KRW) were withdrawn abnormally from its Play Bridge Vault system, which is used to transfer WEMIX to other blockchain networks. This incident followed a malicious external attack in late February.
DAXA criticized WEMIX for not providing adequate disclosure regarding the event and for failing to offer a clear explanation of the cause of the incident or compensation for the victims, leading to the continued cautionary designation.
Previously, WEMIX was delisted from domestic exchanges in December 2022 due to issues with its circulating supply disclosures. However, the token was re-listed in February 2023 on Coinone, and later on GOPAX, Korbit, and Bithumb.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
