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The five major exchanges in South Korea will delist WEMIX, and WEMIX has temporarily fallen by 60%.
Foresight News reports that five South Korean crypto exchanges, Upbit, Bithumb, Coinone, Korbit, and Gopax, announced plans to delist the platform token WEMIX from the blockchain platform owned by Wemade on June 2. Token withdrawals will terminate on July 2. Affected by this news, WEMIX briefly fell 60% to 0.25 USDT, and has now slightly rebounded to 0.38 USDT. The decision regarding the specific token was made by the Digital Asset Exchange Association (DAXA) in South Korea, whose members include these five platforms. DAXA believes that the Wemix Foundation has not sufficiently addressed the issues that led to its designation as a cryptocurrency requiring cautious investment. After a comprehensive review of the credibility and security of the issuing entity, it was determined that this asset does not meet the standards required to maintain trading support.