South Korean Exchanges Delist WEMIX for Second Time, Triggering 50% Price Drop

South Korea’s cryptocurrency exchanges have announced a second delisting decision for Wemix (WEMIX) following security concerns. The move comes after a previous delisting in 2022 stemming from alleged false information. Local news agency Yonhap reports the five major South Korean exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, will formally delist Wemix on June 2nd with final token withdrawals scheduled for July 2nd. The decision was made by the Korea Digital Asset Exchange Association (DAXA) based on a thorough review of the company’s security standards and reliability.