Wemix Foundation Recovers Hacking Damage Using Its Own Holdings

Wemade's subsidiary, the WEMIX Foundation, announced on the 6th that it will recover the hacked WEMIX cryptocurrency using its own holdings and purchase WEMIX coins on the market.

In a notice on the same day, the WEMIX Foundation explained, "As part of investor protection measures, we are discussing methods that can have a positive effect on holders (investors) rather than short-term speculative traders."

Earlier, on the 4th, the WEMIX Foundation announced that approximately 8,654,860 WEMIX coins were stolen due to a malicious external attack on the cryptocurrency wallet 'Play Bridge Vault.' At the time, the amount was equivalent to 9 billion KRW based on the price.

Wemade stated, "The WEMIX stolen from the vault will first be restored using the foundation's holdings," and added, "We plan to purchase WEMIX coins on the market to restore market confidence."

The Digital Asset Exchange Association (DAXA), a consultative body among domestic cryptocurrency exchanges, designated WEMIX coins as a cautionary trading item on the same day the WEMIX Foundation announced the hacking damage. Designation as a cautionary trading item is a preliminary step that could lead to delisting. The WEMIX Foundation explained, "We will respond sincerely to DAXA's request for clarification and strive to have the cautionary designation lifted."