The South Korean gaming company will take legal action against the local association of crypto exchanges, which plans to delist the company’s native token.
Known for the game The Legend of Mir developed 20 years ago, Wemade has focused on blockchain technology for the past few years. The company, which recently launched Wemix3.0 mainnet, has also launched a stablecoin. The company is currently experiencing issues with its native token.
South Korean Gaming Company Takes Action Against Crypto Exchanges Association
South Korean online game company Wemade Co. He said the company will take legal action against the local association of crypto exchanges, which plans to delist its native token, Wemix.
Wemade said on Friday; “The Wemix team does not accept this decision, especially since no explanation has been given to the company regarding this decision,” he said.
The statement came in response to the decision of the Digital Asset Exchange Alliance, which consists of South Korean exchanges Upbit, Bithumb, Coinone, Korbit and Gopax, to cease token trading on December 8. The association said the Wemix tokens circulating in the market “seriously violated” the planned number and provided “inaccurate information” to investors, according to a statement on member Upbit’s website.
The decision, along with the declines in the share prices of Wemade and its subsidiary Wemade Max, also led to a decrease in the value of Wemix coin. Wemade said on Friday that the decision will have a limited impact on its plans for next year.
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