The Digital Asset eXchange Association (DAXA), which consists of the five major crypto exchanges in Korea, including Upbit, Bithumb, Coinone, Korbit, and Gopax, announced on November 24 that WEMIX would be delisted, according to a local outlet report.
DAXA said through the official website of each exchange:
“The distribution amount exceeding the distribution plan submitted by Wemix to DAXA is a considerable amount of over-circulation at the time of designation as a warning issue, and it was judged that the degree was significant.”
DAXA also pointed out that Wemix provided false information through medium and DART disclosures. It is said that it confused investors by announcing unconfirmed information on whether or not DAXA’s transaction support was terminated through several media reports.
WEMIX is the native token of the Wemix blockchain ecosystem operated by the major South Korean game developer WeMade.
Due to differences between the declared quantity of tokens in circulation and the actual amount on the market, WEMIX was labeled with an “investment warning” at DAXA exchanges last month.
The gaming company clarified that the disparity was only a paperwork error and was not deliberate. Investors should be confident that there is no likelihood of delisting WEMIX from the nation, according to WeMade CEO Henry Chang.
On December 8, Wemix’s transaction support is expected to end.
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