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Cryptocurrency blogger Colin Wu announced that five major South Korean exchanges are delisting WEMIX tokens. Among the investors of this gaming platform is the Microsoft giant.
The Korean Digital Asset Exchange Alliance (DAXA), which consists of platforms including Upbit, Bithumb, Coinone, Korbit and Gopax, found that the creator of the WEMIX token provided false information to it before listing. Those platforms will stop trading the token on Dec. 8.
South Korea’s five major exchanges, Upbit, Bithumb, Coinone, Korbit, and Gopax, announced the delisting of the game platform token WEMIX for providing false information. WEMIX just announced a $46 million investment, including from Microsoft. https://t.co/9eCTdUa7zd
– Wu Blockchain (@WuBlockchain) November 24, 2022
The news sent the token’s price plummeting more than 68%.
Image via CoinMarketCap
WEMIX is an Ethereum-based token developed by Wemix Pte. Ltd. This is a subsidiary of Wemade, a game developer established 22 years ago that has developed many popular games in Korea.
It also created the legendary RPG that was hugely popular in China and sold 5 billion copies. Most recently, Wemade raised $46 million from Microsoft, Shinhan Asset Management, and others.