The WEMIX token plunged 70% after an “unreasonable” delisting by Korea’s big crypto exchanges, which allege there is an excess amount of the token in circulation.
South Korea’s largest crypto exchanges have announced they will delist WEMIX — the native token of gaming company Wemade’s blockchain platform Wemix — alleging the firm provided “false information” in response to an investment warning it was issued.
In the investment warning issued Oct. 27, DAXA alleged that there was considerably more WEMIX in circulation than Wemix had disclosed, and Wemix had pledged to work with DAXA to alleviate these concerns.
The price of WEMIX plummeted following the news, and at the time of writing is down 70.8% with a current price of $0.476.
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