Korean Exchanges To Delist Gaming Company Wemade’s Native Token

Wemade's native token, wemix, will be delisted from top South Korean exchanges next month, despite assurances from the gaming company about the way it has distributed the token.

Members of the Digital Asset Exchange Alliance (DAXA) — a group made up of South Korean crypto exchanges Upbeat, Bithumb, Coinone, Korbit and Gopax — will take wemix off their books on Dec. 8, a little over a month since they issued an investment warning against the token.

DAXA is concerned the wemix team distributed far more tokens than it stated in a plan submitted to members, according to a notice posted on Upbit's website. It also accused the company of providing insufficient or misleading information to investors.

DAXA initially gave the wemix team a period starting from the issuance of the warning on Oct. 27 to rectify the situation and address concerns, which the company pledged to do by clarifying information and improving its reporting systems.

(by Callan Quinn)


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