"Wemade loses lawsuit against former and current employees... Ordered to pay 9.9 billion won in damages"
Summary
- It has been reported that Wemade was ordered to pay a total of 9.9 billion won in damages to its former and current employees.
- The employees stated that they filed a lawsuit due to non-payment of the WEMIX virtual asset.
- This ruling could affect Wemade's financial risk and blockchain business operations.
Wemade has been ordered to pay billions of won in damages to its former and current employees.
According to the industry on the 22nd, the 42nd Civil Division of the Seoul Central District Court (Presiding Judge Jeong Hoe-il) ruled in favor of some of the plaintiffs in a lawsuit filed by 27 former and current employees of Wemade against the company for damages. The court ruled that Wemade must pay a total of 9,939,280,000 won.
These employees filed a lawsuit worth about 16.2 billion won in July last year. They are personnel who previously worked at Wemade's blockchain subsidiary, Wemade Tree, and took legal action claiming that the company failed to deliver the promised virtual asset, WEMIX.
Meanwhile, Wemade Tree is a subsidiary established by Wemade in 2018 to enter the blockchain business, which was merged back into the parent company in 2022. Currently, the WEMIX Foundation continues to perform the same role.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Today’s Key Economic & Crypto Calendar] Atlanta Fed GDPNow, More](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
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