1. Aiwaka AdventuresHome
  2. AI Insights

WeMake Withdraws Lawsuits Against WEMIX Tokens on Major South Korean Exchanges

• AI Insights • 90 views

On February 17, the South Korean game giant WeMake withdrew all the lawsuits against the WEMIX tokens on the exchanges under the Digital Assets Exchange Joint …

WeMake Withdraws Lawsuits Against WEMIX Tokens on Major South Korean Exchanges

On February 17, the South Korean game giant WeMake withdrew all the lawsuits against the WEMIX tokens on the exchanges under the Digital Assets Exchange Joint Advisory Agency (DAXA). Industry insiders said that WeMade submitted the withdrawal notice against Upbit, Bithumb Korea, Coinone and Korbit to the Seoul Central District Court.

WeMade withdrew the lawsuit against Upbit, Bithumb Korea, Coinone and Korbit for removing WEMIX

Analysis based on this information:


WeMake, a leading South Korean game giant, has reportedly withdrawn all lawsuits against the WEMIX tokens on major South Korean exchanges under the Digital Assets Exchange Joint Advisory Agency (DAXA). The withdrawal notice was submitted by WeMade to the Seoul Central District Court and was targeted towards Upbit, Bithumb Korea, Coinone and Korbit.

This move marks a significant change in the attitude of WeMake, which had previously sued the exchanges for allegedly listing WEMIX tokens without proper authentication. However, industry insiders suggest that the reason for these lawsuits may have been influenced by the fact that WEMIX tokens have failed to gain traction in the market.

The withdrawal notice comes after a series of litigations initiated by WeMake against various exchanges for allegedly listing the WEMIX tokens without proper KYC (Know Your Customer) and AML (Anti-Money Laundering) measures. The South Korean game giant claims that these exchanges’ actions could be construed as aiding and abetting unlawful activities.

Despite intense legal actions taken by WeMake, the WEMIX tokens have failed to attract significant investor attention. The tokens’ underwhelming performance has been attributed to a lack of utility and use cases, making them unattractive to potential investors and reducing their value in the market.

The move by WeMake to withdraw its legal actions against the major South Korean exchanges under DAXA may signal a possible shift in the company’s strategy towards digital assets in a bid to capture opportunities in the emerging market. This could be seen as a positive development for the industry as it could mean that major South Korean companies would move towards digital assets as a viable investment opportunity.

In conclusion, WeMake’s decision to withdraw all lawsuits against the WEMIX tokens on the major South Korean exchanges implies an end to the legal challenges that once threatened to topple the market. However, it remains to be seen if this development will revive investor interest in the tokens or if the lack of use cases will continue to hold them back.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/02/17/wemake-withdraws-lawsuits-against-wemix-tokens-on-major-south-korean-exchanges/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 02/17/2023 11:13
Next 02/17/2023 11:48

Recommended articles