WEMIX Delisting: Seoul Court Provides Squashing Blow to Wemade
The gavel has fallen, providing a significant blow to South Korean game designer Wemade in its battle versus the WEMIX delisting. A Seoul court has actually declined Wemade’s urgent request to stop the elimination of its WEMIX token from significant local crypto …
Comprehending the Roots of the WEMIX Delisting
The controversy surrounding WEMIX started intensifying earlier this month when the Digital Property eXchange Alliance (DAXA), a self-regulatory body comprising the leading five crypto exchanges in South Korea– Upbit, Bithumb, Coinone, Korbit, and Gopax– jointly announced plans to delist the token. Key points raised by the exchanges consisted of:
Flowing Supply Inconsistencies: Accusations that the actual number of WEMIX tokens in blood circulation surpassed the figures Wemade had disclosed to the exchanges. In this case, Wemade looked for an injunction to suspend the WEMIX delisting decision made by the DAXA exchanges, effectively asking the court to require the exchanges to keep WEMIX noted while the underlying issues might possibly be resolved or further litigated.
Engage Proactively with Exchanges: Open and constant interaction with listing exchanges is vital.
Understand Exchange Policies: Be fully aware of the terms of service and listing/delisting policies of the exchanges where the token is traded.
