Recent events in the cryptocurrency world have shown its volatility. In South Korea, Wemade has filed an injunction to prevent the delisting of its WEMIX token.
What Happened with Wemade?
Wemade, the creator of the WEMIX token and a blockchain gaming player, filed for a provisional injunction with the Seoul Central District Court on May 9. The goal is to block the delisting of WEMIX from several key South Korean cryptocurrency exchanges.
Crypto Exchanges in South Korea
The injunction specifically names major South Korean exchanges: Bithumb, Coinone, Korbit, and Gopax. Their decision to delist WEMIX could significantly impact the token's liquidity and accessibility for investors in the country.
Recurring WEMIX Legal Battle
This is not the first time Wemade has sought legal means to defend its token's listing status. In 2022, the company also turned to the court against the delisting of WEMIX. The outcome of the current injunction is awaited by WEMIX holders and the South Korean crypto community alike, as a successful injunction could temporarily allow trading of the token.
Wemade's filing against South Korean crypto exchanges highlights the complexities faced by blockchain projects and the importance of their relationships with exchanges.
