WEMIX Token Plunges 70% After Delisting From Korean Exchanges

DAXA claimed that the number of WEMIX in circulation exceeds what was disclosed by Wemix, much to the chagrin of issuers.

South Korea's largest crypto exchanges have announced that they will delist WEMIX (WEMIX) - the native token of gaming company Wemade's Wemade blockchain platform - alleging that the company has provided "false information" in response to an investment warning it issued.

Bithumb, Upbeat, Coinone, Korbit and Gopax - which are part of a collective called the Digital Asset eXchange Alliance (DAXA) - announced on November 24 that they would end the support contract for WEMIX, with exchanges expected to close. finish in December. 8.

In the investment warning issued on October 27, DAXA alleged that there were significantly more WEMIX in circulation than Wemix disclosed, and Wemix pledged to work with DAXA to allay those concerns .

After the delisting decision was announced, WEMIX Communication issued a statement saying that it sincerely responded to the requests and concerns raised by DAXA and corrected a number of issues where they believed the circulating offer had been overstated by the group, adding:< /p>

"The WEMIX Team neither acknowledges nor agrees with the unreasonable decision taken by the Digital Asset eXchange Alliance (DAXA)...It is crucial to note that the Foundation has not released a single WEMIX more than what we have officially disclosed so far."

WEMIX price dropped following the news and at the time of writing it is down 70.8% with a current price of $0.476.

Wemade CEO Henry Chang is said to have invested eight times his monthly salary in the WEMIX token, including buying 18,928 WEMIX Classic with this year's October salary.

Wemade is best known for its hit franchise The Legend of Mir which has peaked at over 200 million registrations and includes one of the most popular blockchain games in the world, Mir 4. It announced on 2 November that he had raised $46 million from Mr.