"Lost 8.8 Billion"...Wemade's Wemix, Ultimately Delisted Again in Unprecedented Move

The virtual asset Wemix of the gaming company Wemade has been delisted again due to hacking. This is the first time a 're-delisting' case has occurred in the domestic virtual asset market.

On the 2nd, the Digital Asset Exchange Alliance (DAXA), which includes virtual asset exchanges (Upbit, Bithumb, Coinone, Korbit, Gopax), decided to terminate trading support (delisting) for Wemix. DAXA determined that the reasons for designating Wemix as a cautionary item had not been resolved. Previously, in March, DAXA had designated Wemix as a cautionary item based on the 'Play Bridge' hacking incident.

In February, approximately 8.65 million Wemix coins were stolen due to hacking from Wemix's own service 'Play Bridge'. At the time, this amounted to about 8.8 billion won. Wemix announced the hacking incident to the community on March 4th, which also sparked controversy over 'delayed disclosure'.

DAXA extended the designation of Wemix as a cautionary item twice in March and April while discussing whether to support trading, but due to the severity of the situation, they decided to delist it after about two months.

With Wemix's second delisting, the issuer Wemade is also expected to be affected. Wemade currently operates the blockchain game platform 'Wemix Play', servicing games like 'Mir 4' and 'Legend of Ymir'. Users acquire in-game currency or items based on Wemix tokens in Wemix Play. The acquired tokens can be traded on external exchanges.

A Wemix representative stated, "Regardless of the termination of trading support by domestic exchanges, there is not the slightest shake in the foundation and Wemade's will and belief in the growth of the Wemix ecosystem," and added, "We will do our best to quickly overcome the aftermath of the termination of trading support and return to normalcy by concentrating all available capabilities and resources."

Reporter Ko Eun-yi koko@hankyung.com