{"id":41362,"date":"2025-05-02T17:00:47","date_gmt":"2025-05-02T14:00:47","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=41362"},"modified":"2025-05-02T16:02:58","modified_gmt":"2025-05-02T13:02:58","slug":"south-koreas-top-5-exchanges-delist-wemix","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/south-koreas-top-5-exchanges-delist-wemix\/","title":{"rendered":"South Korea&#8217;s Top 5 Exchanges Delist WEMIX: Price Plummets!"},"content":{"rendered":"<p class=\"\" data-start=\"65\" data-end=\"261\"><strong data-start=\"65\" data-end=\"80\">Wemix token<\/strong>, developed by South Korean Web3 game studio <strong data-start=\"125\" data-end=\"135\">Wemade<\/strong>, lost more than <strong data-start=\"152\" data-end=\"172\">60% of its value<\/strong> on Friday following a <strong data-start=\"195\" data-end=\"228\">collective delisting decision<\/strong> by major local crypto exchanges.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/south-koreas-top-5-exchanges-delist-wemix\/#WEMIX_Price_Plummets\" title=\"WEMIX Price Plummets\">WEMIX Price Plummets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/south-koreas-top-5-exchanges-delist-wemix\/#Trust_Shaken_After_February_Hack\" title=\"Trust Shaken After February Hack\">Trust Shaken After February Hack<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/south-koreas-top-5-exchanges-delist-wemix\/#Statement_and_Buyback_Plan_from_the_Wemix_Team\" title=\"Statement and Buyback Plan from the Wemix Team\">Statement and Buyback Plan from the Wemix Team<\/a><\/li><\/ul><\/nav><\/div>\n<h3 data-start=\"65\" data-end=\"261\"><span class=\"ez-toc-section\" id=\"WEMIX_Price_Plummets\"><\/span>WEMIX Price Plummets<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"\" data-start=\"263\" data-end=\"508\">The decline began earlier in the day, with <strong data-start=\"306\" data-end=\"347\">Wemix falling from $0.7225 to $0.2757<\/strong> within just 15 minutes. At the time of writing, the token had slightly recovered to <strong data-start=\"432\" data-end=\"448\">around $0.36<\/strong>, still marking a <strong data-start=\"466\" data-end=\"478\">50% drop<\/strong> compared to the previous day.<\/p>\n<p class=\"\" data-start=\"510\" data-end=\"952\">The sharp fall was triggered by a joint delisting announcement from South Korea&#8217;s five leading crypto exchanges: <strong data-start=\"623\" data-end=\"658\">Upbit, Bithumb, Coinone, Korbit<\/strong>, and <strong data-start=\"664\" data-end=\"673\">Gopax<\/strong>. These platforms are the <strong data-start=\"699\" data-end=\"766\">only exchanges in the country that allow fiat-to-crypto trading<\/strong>, effectively representing the entire domestic crypto market. As such, decisions made under the <strong data-start=\"862\" data-end=\"904\">Digital Asset eXchange Alliance (<a href=\"https:\/\/coinengineer.net\/blog\/bithumb-delisted-it-price-started-to-drop\/\" target=\"_blank\" rel=\"noopener\">DAXA<\/a>)<\/strong> directly impact South Korea&#8217;s crypto ecosystem.<\/p>\n<p class=\"\" data-start=\"954\" data-end=\"1071\">According to the official notice, <strong data-start=\"988\" data-end=\"1030\">Wemix trading will be halted on June 2<\/strong>, and <strong data-start=\"1036\" data-end=\"1070\">withdrawals will end on July 2<\/strong>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-41363 size-full\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/05\/WEMIXKRW_2025-05-02_15-48-39.png\" alt=\"South Korea's Top 5 Exchanges Delist WEMIX: Price Plummets!\" width=\"785\" height=\"579\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/05\/WEMIXKRW_2025-05-02_15-48-39.png 785w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/05\/WEMIXKRW_2025-05-02_15-48-39-300x221.png 300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/05\/WEMIXKRW_2025-05-02_15-48-39-768x566.png 768w\" sizes=\"auto, (max-width: 785px) 100vw, 785px\" \/><\/p>\n<h3 class=\"\" data-start=\"1078\" data-end=\"1114\"><span class=\"ez-toc-section\" id=\"Trust_Shaken_After_February_Hack\"><\/span>Trust Shaken After February Hack<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"\" data-start=\"1116\" data-end=\"1447\">In February, Wemix suffered a major setback when <strong data-start=\"1165\" data-end=\"1197\">$6.2 million worth of tokens<\/strong> were stolen from <strong data-start=\"1215\" data-end=\"1230\">Play Bridge<\/strong>, a cross-chain protocol. However, the <strong data-start=\"1269\" data-end=\"1289\">Wemix Foundation<\/strong> waited four days to publicly disclose the breach, citing a need to <strong data-start=\"1357\" data-end=\"1384\">&#8220;prevent market panic.&#8221;<\/strong> During this delay, the token\u2019s price dropped <strong data-start=\"1430\" data-end=\"1446\">40% to $0.42<\/strong>.<\/p>\n<p class=\"\" data-start=\"1449\" data-end=\"1838\">In its latest statement, <strong data-start=\"1474\" data-end=\"1482\">DAXA<\/strong> said that the <strong data-start=\"1497\" data-end=\"1563\">Wemix Foundation had failed to sufficiently address the issues<\/strong> that initially led to its designation as an investment warning. Notably, <strong data-start=\"1637\" data-end=\"1687\">Wemix was previously delisted in December 2022<\/strong> when the number of circulating tokens exceeded the disclosed amount. This recent decision marks the <strong data-start=\"1788\" data-end=\"1808\">second delisting<\/strong> of Wemix by Korean exchanges.<\/p>\n<h3 class=\"\" data-start=\"1845\" data-end=\"1895\"><span class=\"ez-toc-section\" id=\"Statement_and_Buyback_Plan_from_the_Wemix_Team\"><\/span>Statement and Buyback Plan from the Wemix Team<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"\" data-start=\"1897\" data-end=\"2075\">Following the delisting news, the <strong data-start=\"1931\" data-end=\"1964\">Wemix team issued a statement<\/strong> to its community, expressing regret over the removal from local exchanges. The message included the following:<\/p>\n<blockquote data-start=\"2077\" data-end=\"2380\">\n<p class=\"\" data-start=\"2079\" data-end=\"2380\">\u201cThe <strong data-start=\"2084\" data-end=\"2115\">Wemix Foundation and Wemade<\/strong> remain steadfast in their belief in the growth of our <strong data-start=\"2170\" data-end=\"2183\">ecosystem<\/strong>, regardless of domestic exchanges&#8217; decision to end trading support. We will mobilize all available resources and capabilities to overcome this challenge swiftly and get the project back on track.\u201d<\/p>\n<\/blockquote>\n<p class=\"\" data-start=\"2382\" data-end=\"2595\">The project also confirmed that it would <strong data-start=\"2423\" data-end=\"2476\">continue its previously announced buyback program<\/strong> worth <strong data-start=\"2483\" data-end=\"2537\">10 billion Korean won (approximately $7.1 million)<\/strong>, introduced in March to help stabilize the token&#8217;s value.<\/p>\n<p class=\"\" data-start=\"2597\" data-end=\"2745\">Meanwhile, <strong data-start=\"2608\" data-end=\"2638\">Wemade\u2019s stock fell 17.45%<\/strong> on Friday, closing at <strong data-start=\"2661\" data-end=\"2684\">23,650 won ($16.77)<\/strong>. The company\u2019s <strong data-start=\"2700\" data-end=\"2745\">year-to-date decline now stands at 32.1%.<\/strong><\/p>\n<p class=\"\" data-start=\"2904\" data-end=\"3110\"><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wemix token, developed by South Korean Web3 game studio Wemade, lost more than 60% of its value on Friday following a collective delisting decision by major local crypto exchanges. WEMIX Price Plummets The decline began earlier in the day, with Wemix falling from $0.7225 to $0.2757 within just 15 minutes. At the time of writing,<\/p>\n","protected":false},"author":1,"featured_media":41364,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[15201,12769,13047],"class_list":["post-41362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-token-delist","tag-token-delisting","tag-wemix-token"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Korea&#039;s Top 5 Exchanges Delist WEMIX: Price Plummets! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/south-koreas-top-5-exchanges-delist-wemix\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korea&#039;s Top 5 Exchanges Delist WEMIX: Price Plummets! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Wemix token, developed by South Korean Web3 game studio Wemade, lost more than 60% of its value on Friday following a collective delisting decision by major local crypto exchanges. 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