According to a local outlet report, 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.
DAXA stated on each exchange's official website:
“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.”
Wemix also provided false information through medium and DART disclosures, according to DAXA. It is claimed that it misled investors by releasing unconfirmed information about whether or not DAXA's transaction support had been terminated via several media reports.
WEMIX is the native token of the Wemix blockchain ecosystem, which is run by WeMade, a major South Korean game developer.
WEMIX was labeled with a "investment warning" at DAXA exchanges last month due to discrepancies between the declared quantity of tokens in circulation and the actual amount on the market.
The gaming company clarified that the discrepancy was due to a paperwork error and was not intentional. According to WeMade CEO Henry Chang, investors should be confident that WEMIX will not be delisted from the country.
Wemix's transaction support is expected to end on December 8.
