Say Goodbye to Wemix, South Korean Exchanges' Farewell
South Korean Exchanges Delisting Leads to 60% Price Drop for Wemix
In the ever-changing world of cryptocurrency, Wemix, a digital token issued by Korean game publisher Wemade, has met an unexpected twist. The Digital Asset Exchange Association (DAXA) has announced that Bithumb exchange will discontinue the trading support for Wemix tokens effective June 2, and withdrawals will no longer be possible after 3 p.m. This decision has sent the Wemix market in a downward spiral.
Wemix: A Tale of Hacking and Delisting
The recent hacking incident that struck Wemix's ecosystem has left a lasting impact. Upon a thorough review of the issuer's reliability and security standards, DAXA has decided to withdraw its trading support from five significant platforms, including Upbit, Bithumb, Coinone, Gopax, and Korbit. The announcement followed a similar pattern in December 2022 when Wemix was temporarily delisted and reinstated the following year.
The Great Price Plunge
Within minutes of the announcement, the Wemix price plummeted by an staggering 60%. In a matter of mere minutes on Friday at 3 p.m., the price dropped from $0.7225 to its low of $0.2757. Following the delisting announcement from DAXA, Wemade's Wemix team issued an apology to the community, assuring that they would pool all resources to correct this situation and get back on track.
Despite the hiccups, Wemade remains optimistic about the future listing of Wemix on global crypto exchanges.
The Road Ahead for Wemix
Though Wemix faces delisting in South Korean exchanges, its global ambitions remain unshaken. Its pursuit of a global listing suggests that Wemix is determined to regain the confidence of its traders and re-establish itself as a secure trading option. Stay tuned for further updates on Wemix's global journey.
- The sudden termination of trading support for Wemix tokens on Korbit, following announcements by the Digital Asset Exchange Association, has left the cryptocurrency industry in a state of flux.
- As the Wemix token faces delisting from major South Korean exchanges, speculation continues to grow about its future prospects in the global crypto exchange ecosystem.
- In the aftermath of the hacking incident that impacted Wemix's ecosystem, industry watchdogs have called for stricter crypto exchange trading standards, with a particular focus on enhancing security measures.
- The significance of Wemix's global ambitions is underlined by its intention to seek listing on international cryptocurrency exchanges, a move that could potentially restore investor confidence and bolster its standing within the crypto trading community.
- The recent price plunge experienced by Wemix following the announcements of delisting and hacking incidents highlights the need for transparency and robust security measures in the highly volatile cryptocurrency trading market.
