Kim Seok-hwan, CEO of Wemix, "Discontent with Delisting Reason... Will File for Injunction"

The previous day, domestic virtual asset (cryptocurrency) exchanges announced the delisting of Wemix (WEMIX), and the Wemix Foundation expressed its discontent with this decision.

Kim Seok-hwan, CEO of the Wemix Foundation, stated at a press conference on the 3rd, "We cannot accept or comply with DAXA's decision, so we are immediately filing for an injunction and preparing legal procedures."

CEO Kim said, "The Wemix team has never objected to the requested items and schedule for clarification and has diligently clarified using all available resources," and "We believed maintaining the listing on domestic exchanges was important, so we followed a sincere clarification process."

The Wemix side claimed that there was a lack of smooth communication as they did not receive any feedback from DAXA during the clarification process.

The first clarification by the Wemix side took place after being designated as a trading caution item on March 4. CEO Kim explained, "In the first clarification, we were asked to clarify three items: the foundation's awareness and response timeline to the hacking incident, the cause and prevention measures for the Wemix Play Bridge hacking, and the recovery plan and measures for the damage," and "The Wemix side submitted all clarification materials on March 10."

The second clarification request was communicated on March 20. It was reported that the second request required clarification on the 'insincere disclosure' related to the Wemix side's hacking incident. CEO Kim said, "We conveyed the contents regarding insincere disclosure during the first clarification, and in the second, we intended to clarify more detailed contents. However, we did not receive any feedback from DAXA."

Furthermore, there were three clarification requests in April. In particular, for the final clarification, they explained that they received verification of their security system from an external security consulting firm certified by the Korea Internet & Security Agency (KISA) and submitted these contents to DAXA.

Despite these clarification processes, the Wemix side claimed that DAXA decided on the delisting without clear reasons.