CEO of WeMade Speaks Out About DAXA’s Delist WEMIX Token Decision: “This is power abuse!”

After DAXA, the organization of the 5 largest crypto exchanges in Korea, announced that the exchanges would delist WEMIX of gaming company Wemade, CEO Chang Hyun-guk held a press conference about the event.

The CEO of Wemade declared at a tearful news conference that he would challenge the decision in court because it was arbitrary and unjust.

During a news conference on Friday morning, he repeatedly said: “This is gapjil!” (Korean for “power abuse”).

The choice was made a month after DAXA flagged Wemix with an investment warning on October 27 due to discrepancies between the number of tokens that were supposed to be distributed per company disclosures and the actual number in circulation.

Following the announcement of the delisting, WEMIX Communication issued a statement in which it said it had truly complied with DAXA’s demands and worries and fixed a number of problems where they felt the group had inflated the circulating supply.

Chang has eight times reported his monthly income into the WEMIX token, most recently buying 90,480.56 WEMIX Classic on November 2.

Out of the five DAXA members, Upbit is the only Korean cryptocurrency exchange that demanded Wemade submit its plans for how many coins it intends to distribute in the market. However, a lot of coins, in Chang’s opinion, are trading without submitting their intended amounts.

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