The South Korean prosecution has launched a comprehensive mandatory investigation into WEMIX issuer WeMade and market makers

ChainCatcher news, the South Korean prosecution has launched a comprehensive mandatory investigation into WeMade, the game company that issued WEMIX, and its market makers, including seizures and searches. This search and seizure marks the first mandatory investigation by the South Korean prosecution into WeMade.

It is reported that since 2021, WeMade has sparked multiple controversies. This includes the liquidation of WEMIX worth 225.5 billion won from November 2020 to January 2022 without notifying WEMIX users, which was used to acquire a company, causing significant controversy. Additionally, at the end of 2022, WEMIX's issuance was suspected of false disclosure, leading to legal disputes with the country's trading platforms, and WEMIX was ultimately delisted from several major cryptocurrency trading platforms in South Korea. (source link)