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South Korea’s top crypto exchanges have announced that they will remove WEMIX

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News Tech: DAXA claimed that the circulating number of WEMIX is more significant than what was disclosed by Wemix, much to the annoyance of issuers.

Bithumb, Upbeat, Coinone, Korbit and Gopax – part of the Digital Asset eXchange Alliance (DAXA) – announced on November 24 that they would end contract support for WEMIX (WEMIX), with trading ending on Dec. 8.

South Korea’s largest crypto exchanges have announced that they will delist WEMIX – the native token of gaming company Wemix’s blockchain platform Wemade – because the company provided “false information” in response to an investment warning it received.

In its Oct. 27 investment alert, DAXA claimed that there was significantly more WEMIX in circulation than Wemix had disclosed, and Wemix promised to work with DAXA to address these concerns.

The CEO of Wemade, Henry Chang, has reportedly invested his monthly salary eight times in the WEMIX token, including the purchase of 18,928 WEMIX Classic with salary from October this year.

Wemade is best known for its hit franchise The Legend of Mir, which has peaked at over 200 million signups and includes one of the world’s most popular blockchain games, Mir 4. It announced on Nov. 2 that it had raised $46 million from Microsoft and asset managers Kiwoom Securities and Shinhan Asset Management. Chang said then: “Wemade and Wemix will continue their efforts to raise more capital and actively invest to build the global digital economy platform.”

Wemade also announced a plan to release a new economy platform combining non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs). Although South Korea is one of the world’s largest gaming markets and blockchain adopters, the country has banned play-to-earn blockchain games.

Since being elected in a close race on March 10, crypto-friendly President Yoon Suk-yeol has hinted that the ban could be lifted and wants to grow the virtual asset market by overhauling “far from reality and unreasonable regulations.”

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