WEMIX, a blockchain project by South Korean game developer Wemade, has once again been delisted from Korea’s major crypto exchanges, marking the first-ever case of a re-delisting of a previously delisted and re-listed coin. The Digital Asset eXchange Alliance (DAXA), representing Korea’s top exchanges, cited unresolved concerns about the project’s transparency and security as the key reason for the decision.
This latest delisting stems from a recent hacking incident involving WEMIX’s “Play Bridge” platform, in which approximately 8.65 million WEMIX tokens were stolen. Although the foundation disclosed the incident later than it occurred, sparking allegations of delayed reporting, it claimed to have submitted all required documentation and proposed third-party security reviews.
Despite these efforts, DAXA determined that WEMIX still failed to meet its listing standards. The foundation strongly disagreed, with WEMIX Foundation CEO Kim Seok-hwan announcing plans to file for an injunction, stating the process lacked transparency and sufficient communication.
This is not WEMIX’s first delisting. The coin was previously removed from Korean exchanges over inaccurate token distribution disclosures. It was re-listed about a year later by several exchanges, but this move also stirred controversy, leading to DAXA imposing a temporary re-listing ban on jointly delisted tokens.
Following this second delisting, the foundation issued a public apology and reaffirmed its commitment to token holders. It vowed to continue strengthening its security infrastructure, proceed with its buyback program, and focus on global expansion beyond the Korean market.
“The foundation will push forward without hesitation,” stated WEMIX officials. “We are determined to prove our value on the global stage and turn this crisis into an opportunity for ecosystem growth.”
