[Asia Economy Reporter Myunghwan Lee] WEMIX, which was delisted from the four major virtual asset exchanges due to false disclosure of circulation volume, has been listed on a new domestic exchange.
Virtual asset exchange GDAC announced on its website on the afternoon of the 8th that "WEMIX will be listed on the BTC (Bitcoin) and ETH (Ethereum) markets." Accordingly, from 5:30 PM on the same day, deposits and trading of WEMIX became available on the GDAC exchange. However, withdrawals are scheduled to be supported starting from 10 AM on the 15th. Additionally, since GDAC does not support KRW trading, transactions can only be conducted through virtual assets such as Bitcoin.
Han Seunghwan, CEO of PeerTech, which operates GDAC, explained the background of the listing through his social media post, stating, "WEMIX has over 540,000 investors in scale, and listed companies under the Capital Markets Act are also connected, so the impact is even greater," adding, "At minimum, deposit and withdrawal support and a minimal trading market are necessary for investors."
Meanwhile, the Seoul Central District Court Civil Division 50 (Chief Presiding Judge Song Kyunggeun) dismissed the provisional injunction application filed by WEMIX LLC against the DAXA-affiliated exchanges Upbit, Bithumb, Coinone, and Korbit to suspend the effect of the decision to terminate trading support on the afternoon of the previous day. As a result of the court's decision, WEMIX's trading support was suspended from 3 PM on the same day on domestic exchanges belonging to the Digital Asset Exchange Association (DAXA).
Earlier, on the 24th of last month, DAXA decided to delist WEMIX due to a serious violation of circulation volume. Insufficient or incorrect information provided to investors, errors in materials submitted during the explanation period, and damage to trust were also cited as reasons for delisting.
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