Wemade Withdraws All Lawsuits Against Exchanges Delisting WEMIX

[Asia Economy Reporter Lee Jung-yoon] Wemade has withdrawn all lawsuits filed against the digital asset exchange consortium (DAXA) exchanges challenging the delisting of the virtual asset WEMIX.

According to the legal community on the 17th, Wemade submitted withdrawal documents for three injunction appeals against the termination of trading support decisions filed with the Seoul Central District Court the previous day against Upbit, Bithumb Korea, Coinone, and Korbit.

Last November, Wemade filed for a provisional injunction to suspend the effect after these exchanges decided to delist WEMIX, citing issues with the disclosure of WEMIX's circulating supply. The court dismissed the injunction, siding with DAXA, and WEMIX trading support was terminated on major domestic exchanges.

Wemade appealed the court's decision in December last year, and the lawsuit had been ongoing until recently. On the previous day, Coinone relisted WEMIX on the KRW market. As Wemade withdrew lawsuits not only against Coinone but also other exchanges at once, some speculate that this move is in consideration of the possibility of additional relisting of WEMIX.