Wemade's virtual asset project, WEMIX, suffered the theft of coins worth 9 billion won (8.65 million coins) due to hacking, causing Wemade's stock price to plunge by more than 11%.
According to the Korea Exchange on 4th, Wemade closed at 34,250 won, down 4,350 won (11.27%) from the previous trading day. Wemade's subsidiaries, Wemade Max and Wemade Play, also fell by 6.60% and 6.17%, respectively.
On the same day, the WEMIX Foundation announced through its official website that the virtual asset exchange service 'Play Bridge Vault' was subjected to malicious external attacks resulting in the abnormal withdrawal of 8,654,860 WEMIX coins. Calculating at the price of 1,020 won on the 28th of last month, this amounts to approximately 8.8 billion won.
The coins were deposited across seven foreign exchanges, including KuCoin, BitMart, Bybit, Bitget, HTX, BitToMe, and MEXC. Although the Wemix team established an emergency task force (TF) to respond immediately after recognizing the attack, it appears that most of the stolen virtual assets were sold on the exchanges.
Accordingly, the domestic consortium of the top five virtual asset exchanges, the Digital Asset Exchange Association (DAXA), designated WEMIX as a jointly cautionary item and commenced a delisting review.