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According to PANews news on June 30, according to Digital Asset, this morning, South Korean prosecutors have launched a comprehensive mandatory investigation into the country’s listed game company WeMade and its WEMIX token market maker, including seizure and search. The search and seizure was in response to a complaint filed by WEMIX investors with prosecutors on May 12, accusing the company of fraud, embezzlement and breach of trust.
According to reports, since 2021, WeMade has caused many controversies. Including from November 2020 to January 2022, WeMade liquidated WEMIX worth 225.5 billion won without notifying WEMIX users, and used the funds to acquire a company, causing huge controversy. In addition, at the end of 2022, WEMIX’s circulation was suspected of false disclosure, and legal disputes occurred with the country’s exchanges. WEMIX was eventually delisted by several major South Korean encryption exchanges.