wemix

The South Korean blockchain gaming platform WEMIX has updated the situation regarding abnormal transactions and response measures. The investigation results show that the contract ownership related to WEMIX was compromised, and the attacker unauthorizedly issued approximately 5,225,525 WEMIX, which was subsequently exchanged for about 30,736 WEMIX and 724,198.27 USDC.e.The stolen USDC.e was transferred to Ethereum and BSC via a bridge, exchanged for assets such as ETH and USDT, and partially deposited into centralized exchanges. The attacker's wallet and fund flow have been tracked, and applications for freezing are being made to exchanges and stablecoin issuers. The exact cause is still under investigation, and the team is conducting a comprehensive review with external experts while examining related and similar contracts. Market data shows that the price of WEMIX tokens has dropped by 16.65% in the last 24 hours.

According to on-chain detective Specter monitoring, Wemix Network may have experienced a vulnerability exploitation event exceeding $700,000, with the related address being 0xC921...7EA2.

ChainCatcher news, according to Cointelegraph, the Southern District Court of Seoul ruled on Tuesday that the charges against former Wemade CEO Jang Hyun-guk for manipulating the circulation of WEMIX tokens were not established.The prosecution accused him of concealing the fact that he continued to sell over $200 million worth of tokens in 2022, but the court found a lack of evidence for intentional market manipulation. Following this news, WEMIX saw a short-term surge, but it is still down about 97% from its peak in 2021.

ChainCatcher news, the Digital Asset Exchange Association of Korea (DAXA) released a statement on May 15, emphasizing that member exchanges have the autonomy to decide on the delisting of crypto assets (termination of trading support), and DAXA does not interfere with such decisions.This statement is seen as a response to the recent controversy surrounding the delisting of WEMIX by exchanges such as Bithumb, Coinone, Korbit, and GOPAX. DAXA stated that, unless special circumstances arise, the decisions made by each exchange based on user protection and market judgment should be respected.

According to ChainCatcher news, five South Korean cryptocurrency exchanges—Upbit, Bithumb, Coinone, Korbit, and Gopax—have announced plans to delist the blockchain platform token WEMIX, owned by Wemade, on June 2. Token withdrawals will be terminated on July 2.The decision to delist this specific token was made by the Korea Digital Asset Exchange Association (DAXA), which includes these five platforms. DAXA believes that the Wemix Foundation has not adequately addressed the issues that led to its designation as a cryptocurrency with investment caution. After a comprehensive review of the issuing entity's credibility and security, it was determined that this asset does not meet the standards for maintaining trading support.As a result of this news, WEMIX briefly dropped 60% to 0.25 USDT, and has now slightly rebounded to 0.38 USDT.

ChainCatcher news, Wemade's blockchain subsidiary Wemix Foundation has disclosed a loss of approximately 8.65 million WEMIX tokens (worth about 6.22 million USD) due to a hacker attack. Its CEO Kim Seok-hwan stated that the hacker is unlikely to be the North Korean organization Lazarus Group, but rather a professional who infiltrated the system by stealing the service monitoring authentication keys from the NFT platform Nile. It is reported that the hacker prepared for this attack for two months and then attempted 15 withdrawals through the creation of abnormal transactions, of which 13 were successful.Kim Seok-hwan also revealed plans to reopen all Wemix services on Friday and will upgrade security measures on the new blockchain infrastructure.

ChainCatcher news, the blockchain gaming platform WEMIX under the South Korean listed gaming company Wemade disclosed a hacking incident on March 4, stating: "On February 28, 2025, approximately 8,654,860 WEMIX tokens were anomalously extracted due to a malicious external attack on Play Bridge Vault." WEMIX stated that it has taken immediate action to prevent further damage and is cooperating with law enforcement to track down the attackers. On March 13, the WEMIX Foundation executed 20 million WEMIX tokens to mitigate market impact.In addition, according to a report by Yonhap News Agency today, the loss caused by the hacking incident on February 28 amounted to approximately 9 billion won (about 6.22 million USD). The WEMIX Foundation emphasized in response to external accusations of delayed announcements that it "never had any intention or attempt to conceal the hacking incident." A representative of the WEMIX Foundation stated, "After discovering the hacking incident on February 28, we immediately shut down the affected servers and began a detailed analysis. On the same day, we submitted a complaint against the unidentified attackers to the Cyber Investigation Division of the Seoul Police Agency, and the National Investigation Agency is currently investigating. Since the method of intrusion has not yet been determined, hastily releasing an announcement could expose us to further attack risks, which is why we did not issue an immediate announcement. As most of the stolen assets have already been sold off, the market impact has already occurred, and it is difficult to ensure there are no further risks. If we had announced immediately, it could have triggered market panic."

ChainCatcher news, on the afternoon of the 7th, the Civil Division 42 of the Seoul Central District Court held the first debate preparation for the lawsuit filed by 27 former and current senior executives of WeMade against the company for approximately 16.2 billion Korean Won in damages.Among these employees, some are still working at WeMade, consisting of members from the subsidiary Wemade Tree (the former blockchain department of WeMade). The company developed WEMIX, which was first listed on cryptocurrency exchanges in 2020. WeMade subsequently merged with Wemade Tree in February 2022.During the debate preparation that day, the plaintiff's representative argued: "The plaintiffs are employees who developed WEMIX and signed a compensation agreement for WEMIX development with the investors. The condition is that they have worked for more than 3 years." They further added: "The company has emails stating that it would clearly promise the plaintiffs token compensation."The judges commented: "The weakness of the plaintiffs is the lack of a contract," and "(even so) it is strange for the defendant to say they cannot give the employees a penny just because there is no contract."Previous news, former and current employees of Wemade Tree (now merged into Wemade), the development company of the WEMIX project, have filed a lawsuit against Wemade for damages amounting to 16.2 billion Korean Won (approximately 11.85 million USD).

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.