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Wemix Token Plunges 60% as South Korean Exchanges Move to Delist
Wemix Token Plunges 60% as South Korean Exchanges Move to Delist
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Wemix token suffered a dramatic 60% drop within 15 minutes, falling from $0.7225 to $0.2757, before partially recovering to $0.38. The sell-off followed an announcement by South Korea’s Digital Asset eXchange Alliance (DAXA) to delist the token due to concerns over issuer reliability and security standards.
DAXA, comprising major exchanges including Upbit, Bithumb, Coinone, Korbit, and Gopax, stated the decision was based on a comprehensive review. Trading support for Wemix will officially end on June 2, effectively removing access to one of the region’s key liquidity pools.
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