Wemix "Domestic exchanges provide no explanation for Wemix delisting damage… Industry needs improvement"

Kim Seok-hwan, the head of the Wemix Foundation, expressed dissatisfaction with domestic virtual asset (cryptocurrency) exchanges.

On the 3rd, at a press conference near Pangyo Station, Kim responded to a reporter's question about whether there are any additional measures to address the situation, saying, "We plan to file an injunction lawsuit domestically and will use all means to recover."

He also confirmed the intention to continue the business of Wemade and the Wemix Foundation. Kim stated, "We have invested a tremendous amount of money in the business so far," and "Currently, 321 personnel are involved in the blockchain project, which is our sincerity."

The Wemix Foundation also emphasized that they spent a lot of time explaining the designation of the trading caution item. Kim said, "After the hacking incident, we held a press conference once, and since then, we have explained the designation of the trading caution item at various places such as shareholder meetings and holder meetings."

He also expressed dissatisfaction with the exchanges.

Kim pointed out, "It is true that Wemix holders have suffered damage. However, Wemix holders are customers of both Wemix and domestic virtual asset exchanges. It is questionable what DAXA and the exchanges are saying and explaining. They are not revealing anything about how they made such a decision that caused significant damage to their customers, or who made the decision."

He added, "Currently, exchanges in the domestic virtual asset industry are too powerful. It is problematic that they arbitrarily decide on significant issues like delisting without any discussion process or criteria in the self-regulatory body," and "This issue is not limited to Wemix and needs to be improved to prevent such situations in the future."