Home Metaverse South Korean Court Denies Injunction Against Crypto Exchanges For Delisting Wemix Token From Metaverse: Report

South Korean Court Denies Injunction Against Crypto Exchanges For Delisting Wemix Token From Metaverse: Report

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South Korean Court Denies Injunction Against Crypto Exchanges For Delisting Wemix Token From Metaverse: Report

Source: news.google.com

A court in Seoul, South Korea has rejected a request for injunctive relief filed by metaverse project Wemade after its wemix token (WEMIX) was delisted from four South Korean cryptocurrency exchanges, according to a report by Yonhap.

In November, Upbit, Bithumb, Coinone, and Korbit all said the token would be delisted from their exchanges, causing $287 million in market cap to evaporate as the token fell from $1.55 to 46 cents.

The exchanges, which form the Digital Asset Exchange Association, said that wemix was being delisted due to inaccuracies in circulating supply figures, according to the report.

Wemade sought an injunction against the exchanges, stating that their decisions were based on vague reasoning and hurt investors.

The court, however, dismissed the request on Wednesday.

South Korea has…

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