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Microsoft-Backed WEMIX Falls 68%, Getting Delisted by Five Top Exchanges

24 Nov, 20222 min readOther
Microsoft-Backed WEMIX Falls 68%, Getting Delisted by Five Top Exchanges

Crypto blogger Colin Wu has announced that five major exchanges in South Korea are delisting WEMIX token. This gaming platform has the Microsoft giant among its investors.

South Korean Digital Asset eXchange Alliance (DAXA), which consists of such platforms as Upbit, Bithumb, Coinone, Korbit and Gopax, has found out that creators of WEMIX token provided it with false information before the listing. These platforms will stop trading this coin on Dec. 8.

The five major exchanges in South Korea, Upbit, Bithumb, Coinone, Korbit, and Gopax, announced the delisting of the gaming platform token WEMIX for providing false information. WEMIX just announced a $46 million investment, including from Microsoft. — Wu Blockchain (@WuBlockchain) November 24, 2022

The price of the coin is plunging by more than 68% on the news.

WEMIX is an Ethereum-based token developed by Wemix Pte. Ltd. This is a subsidiary of Wemade — a game developer founded 22 years ago, which created many popular games in South Korea.

It also built the Legend of Mir RPG, which was very popular in China and sold half a billion copies. Recently, Wemade raised $46 million from such companies as Microsoft, Shinhan Asset Management and others.

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