The Digital Asset Alternate Joint Consultative Physique (DAXA), the South Korean affiliation of crypto exchanges, introduced on Nov. 24 that the WEMIX token could be delisted. In justifying the choice to delist WEMIX, the affiliation claimed the data supplied by the token’s issuer Wemade is fake and has confused buyers.
Discrepancy Between WEMIX Circulating Provide and Token Distribution Plan
An affiliation of South Korean cryptocurrency exchanges, the Digital Asset Alternate Joint Consultative Physique (DAXA), introduced on Nov. 24 that the gaming platform Wemade’s token — WEMIX — could be delisted. In response to DAXA, the choice to delist WEMIX got here after the affiliation claimed to have discovered a discrepancy between the token’s circulating provide and the submitted distribution plan.
The announcement by DAXA, which is made up of 5 crypto exchanges, specifically: Bithumb, Coinone, Gopax, Korbit, and Upbit, got here simply days after some native media stories prompt the delisting determination could be revealed on Nov. 17. On the time, CEO of Wemade Henry Chang reportedly informed token holders that the delisting of WEMIX was not a risk.
Nevertheless, as reported by Hankyung publication, DAXA affiliation members in the end determined to take away the token from the respective platforms.
“The distribution quantity exceeding the distribution plan submitted by Wemix to DAXA is a substantial quantity of over-circulation on the time of designation as a warning subject, and it was judged that the diploma was vital,” DAXA reportedly mentioned.
Additional, the affiliation accuses Wemade of circulating false data and complicated buyers by releasing unconfirmed details about WEMIX’s itemizing standing.
On the time of writing (Nov. 24, 3:00 p.m. EST), WEMIX was down by almost 70% to $0.488 whereas the token’s 24-hour traded volumes have been simply over $540 million. In the meantime, DAXA reportedly mentioned “Wemix’s transaction assist will likely be terminated on Dec. 8 to guard buyers.”
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