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Wemix Delisted from Key Cryptocurrency Exchanges

Written: 2022-12-09 11:48:20Updated: 2022-12-09 14:59:01

Wemix Delisted from Key Cryptocurrency Exchanges

Photo : YONHAP News

The cryptocurrency Wemix, operated by video game company Wemade, has been delisted from the nation’s key cryptocurrency exchanges.

As of 3 p.m. Thursday, members of the Digital Asset eXchange Association(DAXA), including Upbit, Bithumb, Coinone and Korbit, terminated their transaction of the cryptocurrency, 26 months after the coin was listed.

As a result, Wemix cannot be traded in Korean won or virtual tokens on these exchanges.

The move comes a day after a Seoul court denied Wemade’s injunction request to block the exchange platforms from delisting its coin. 

The exchanges had earlier informed the operator that they will no longer provide support for its trade after noting a discrepancy between the projected number of tokens in circulation and the actual number in the market.

Wemix saw its market value shrink by more than 400 billion won with the delisting and its investors will likely have to take on the brunt of losses.

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