Wemix transaction cautionary status extended amid 9 billion won hack incident

On the 18th, major cryptocurrency exchanges where WEMIX is listed decided to extend the designation period for WEMIX as a transaction cautionary item for one more month following recent hacking incidents.

Excluding Upbit, the five major Korean won cryptocurrency exchanges (Bithumb, Coinone, Korbit, and Gopax) announced that "WEMIX's transaction cautionary designation has been extended by the members of the Digital Asset Exchange Alliance (DAXA)." They added, "We are receiving explanations from the project team regarding the facts related to the cautionary designation and subsequent measures, and we are conducting additional review procedures; the extension is for a more thorough examination."

On the 28th of last month, the WEMIX Foundation reported that 8,654,860 WEMIX had been stolen due to hacking. Immediately after the incident, the WEMIX Foundation reported it to the authorities and requested cooperation from overseas exchanges, but it caused controversy as they only notified domestic exchanges and investors of the incident four days later, raising concerns about delisting.

Subsequently, major cryptocurrency exchanges like Bithumb and Coinone designated WEMIX as a transaction cautionary item due to inadequate disclosures. The schedule for future extensions or cancellations of the transaction cautionary designation and notifications of transaction support termination is expected to be announced in the third week of April. In the case of Upbit, it delisted WEMIX three years ago in 2022 due to issues such as errors in circulation information and damage to trust.