ChainCatcher news, Seoul National University announced the suspension of cryptocurrency donations until stability and regulation are assured. This move reportedly comes after the gaming company Wemade's commitment to provide WEMIX tokens worth 1 billion won (approximately 737,000 USD) to a startup fund sparked controversy.

ChainCatcher news, former and current employees of Wemade Tree, the development company of the WEMIX project (now merged into Wemade), have filed a damage compensation lawsuit against Wemade for 16.2 billion KRW (approximately 11.85 million USD).Wemade revealed in an electronic announcement on August 9 that 27 former and current employees of Wemade Tree filed the lawsuit on July 29, claiming that Wemade Tree had promised to grant them WEMIX (Wemix) and demanded compensation from Wemade.Wemade stated that the amount of compensation requested by the plaintiffs (former and current employees) is 16.2 billion KRW (approximately 11.85 million USD), which accounts for 4% of the company's capital.In addition, the company stated that it will respond through legal representatives according to legal procedures.

According to ChainCatcher news, the WEMIX Foundation announced the termination of the WEMIX token burn plan and will redirect resources towards ecosystem expansion. At the same time, its team will continue to promote a deflationary token economy through the WEMIX Pay buyback plan, committing to use at least 4-5% of WEMIX Pay revenue for buybacks.It is reported that the WEMIX Foundation has implemented token burns in various ways, including six large-scale burns, batch burns, and automatic burns.Previous news indicates that during the Brioche hard fork on July 1 of this year, the foundation burned 435 million WEMIX (40% of the total issuance) and implemented a block minting halving mechanism.

ChainCatcher news, the Seoul Central District Court ordered on July 31 that the closed virtual asset exchange GDAC return 7.8 million WEMIX tokens (worth approximately 7.31 million USD) to Wemade CEO Park Kwan-ho.The court supported Park Kwan-ho's application for a temporary injunction for the delivery of virtual assets submitted on July 29. If GDAC fails to comply with the order within 30 days, it will pay Park a daily fine of 3 million Korean won after the deadline.The court dismissed GDAC's allegations against Park regarding market manipulation and money laundering, noting that GDAC may have failed to maintain a 100% reserve ratio, which contradicts its previous statements. The court also hinted that the losses from the approximately 20 billion Korean won (about 14.48 million USD) hack GDAC suffered last April may not have been fully recovered.It is reported that GDAC terminated services on July 16, preventing Park from withdrawing the remaining WEMIX.

ChainCatcher news, Wemade's overseas affiliate WeMix Foundation operates the blockchain-based WEMIX platform and services, and will launch the game content payment service "Wemix Pay" in the second half of this year."Wemix Pay" is a service that allows users to purchase various in-game content using Wemix coins. Users who purchase game content with Wemix Pay can earn "Prime Points" and "Play Tokens" as rewards.

ChainCatcher news, the South Korean blockchain gaming platform WEMIX announced on X that WEMIX has executed the Brioche hard fork, introducing a halving cycle and enhancing token economics.Starting from block 53,525,500 at 00:08:01 (GMT+9) on July 1, 2024, the block minting rewards for the WEMIX3.0 mainnet will be halved. The halving will continue every 63,115,200 blocks, for a total of 16 cycles. According to this schedule, halving will occur once every two years until December 31, 2100.Additionally, to set the total supply of WEMIX at 590 million tokens, issuance will continue until block 2,467,714,000, after which no new WEMIX will be minted.

ChainCatcher news, Chainlink stated on platform X that Wemade's blockchain gaming platform Wemix Network has integrated Chainlink CCIP on its mainnet. As the official cross-chain infrastructure of the network, CCIP supports the large gaming ecosystem of WEMIX and unagi(x)------the interoperability engine of unagi, which is a full-chain plan for achieving fast on-chain and off-chain transactions.Powered by CCIP, unagi(x) enables Web3 gamers to play NIGHT CROWS in a multi-chain ecosystem while facilitating the seamless transfer of in-game tokens and NFTs across chains.

ChainCatcher news, the WEMIX Network has now integrated with the OKX Web3 wallet, allowing users to perform Swap, Staking, lending, providing LP, and more through the OKX Web3 wallet on WEMIX. WEMIX is a large ecosystem launched by the South Korean blockchain video game developer Wemade, based on experience, platform-driven, and service-oriented.It is reported that the OKX Web3 wallet is an industry-leading one-stop Web3 entry point, now supporting over 85 public chains, with a unified experience across App, extension, and web, covering five major areas: wallet, DEX, DeFi, NFT marketplace, and DApp exploration, and supporting Ordinals marketplace, MPC and AA smart contract wallets, gas exchange, and hardware wallet connections, among others.

ChainCatcher news, according to decrypt, Ubisoft has become one of the 40 node committee partners of WEMIX and will operate verification nodes for its new "WEMIX 3.0" network.It is reported that the WEMIX public chain is a gaming public chain under the South Korean gaming giant WEMADE, which has iterated to version 3.0. According to WEMIX, all node committee partners (NCP) will operate WEMIX nodes to verify the blockchain, and Ubisoft will join the organization as "No. 26". Currently, WEMIX has announced 23 out of the 40 partners.

ChainCatcher news, the South Korean blockchain gaming platform WEMIX announced that the foundation has decided to stop the WENIX token minting rewards for each block, meaning that the total supply of WEMIX will remain unchanged, or will start to decrease from the block height at which the block minting rewards are stopped. The project team will use the WEMIX held by the foundation for distribution to incentivize ecosystem contributors, which is expected to last for about 20 years, while the current network fees through automatic destruction will be converted to bulk destruction, with the destruction rate determined at the end of each quarter.According to the timeline, WEMIX will release an updated white paper reflecting the above changes and will redistribute the token allocation based on the updated white paper. Subsequently, WEMIX3.0 will undergo a hard fork, which will stop block reward minting after deployment, and the total supply of WEMIX will be determined based on the specified block height, disclosed on various data aggregation platforms such as CoinMarketCap and through exchanges. In addition, the new block rewards will be distributed through a "block reward" wallet designed separately by the WEMIX foundation. The modifications and deployment of WEMIX3.0 are expected to take place in the first quarter of this year. The project team will provide guidance to the community through official announcements before each program execution.

ChainCatcher news, the OKX Web3 wallet has now taken the lead in integrating with the WEMIX network. Users can switch to the WEMIX network with one click without manual configuration, and seamless storage and management of WEMIX ecosystem assets are supported on the OKX Web3 wallet app, web, and plugin.It is reported that the WEMIX public chain is a gaming public chain under the South Korean gaming giant WEMADE, which has been iterated to version 3.0, aiming to create a borderless giant ecosystem and co-build an open-source Web3.0 era. The OKX Web3 wallet is a one-stop Web3 entry point, now supporting over 85 public chains, with a unified app, plugin, and web interface, covering five major sectors: wallet, DEX, DeFi, NFT marketplace, and DApp exploration, and supporting Ordinals marketplace, MPC and AA smart contract wallets, gas exchange, and hardware wallet connections.

According to Yonhap News Agency, South Korean listed gaming company WeMade announced that it has been fined 53.69 billion won (approximately 4,106.75 USD) due to a comprehensive investigation by the Central Regional Tax Office into corporate taxes from 2019 to 2022. This amount is the total fine imposed on WeMade and its subsidiary WeMadeTree.It is reported that the National Tax Service decided to levy this tax due to a tax investigation into WEMIX (the cryptocurrency issued and used by WeMade and WeMadeTree). An official from WeMade stated, "These taxes are generated based on the accounting and tax treatment of WEMIX used from 2019 to 2022, and we plan to pay these taxes."

ChainCatcher news, South Korean gaming giant WeMade's token WEMIX has officially been approved to relist on the South Korean exchange Bithumb, with the deposit opening time set for December 12 at 17:00 (KST). The withdrawal and trading times are yet to be determined. In addition, WEMIX announced that after relisting on Bithumb, it has completed the following WEMIX3.0 migration, transferring the WEMIX Classic held by the exchange to WEMIX, and the retrieved WEMIX Classic will be transferred to the Klaytn dead wallet for destruction.Previously, on November 24, 2022, due to the call from the Digital Asset Exchange Association (DAXA) in South Korea to halt trading support for WeMade's token WEMIX to protect investors, several South Korean exchanges, including Bithumb, Upbit, Coinone, and Korbit, announced the delisting of WEMIX.

ChainCatcher news, WEMIX has announced that it has invested in five Chinese game developers through a $30 million fund established in March in collaboration with Mirana Ventures. The types of games involved include MMORPG, card battles, sports, and strategy simulation. The games developed by the invested developers will be launched on WEMIX3.0's blockchain gaming platform WEMIX PLAY.

ChainCatcher news, according to Globe Newswire, the South Korean gaming company Wemade's blockchain gaming platform WEMIX has announced the launch of the NFT auction service Drops.It is reported that Drops will auction game NFTs as well as special NFTs minted from various games available on WEMIX PLAY, and players can participate in the auction using WEMIX.

ChainCatcher news, informed sources revealed that the South Korean gaming company WeMade is conducting WEMIX token sales in the over-the-counter market through the issuance of structured financial products. These tokens will be directly sold in the secondary market, such as exchanges, after the lock-up period ends. Due to the controversy over WEMIX's circulation, the sales on exchanges did not go as planned.According to the memorandum of the structured financing transaction terms, which is suspected to have been written in March this year, the minimum investment is 300 million won, with a lock-up period of one year, adjustable based on the amount. When the fund purchases tokens held by the Wemix Foundation, the discount rate is over 20%. The fund offers a basic return rate of 10%, and investors are required to pay a 1% management fee to the fund.Informed sources stated that at the time, the Wemix Foundation aimed to create a fund amounting to 3 billion to 5 billion won or even higher. "As far as I know, the fund is specifically set up for large individual investors."

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)