South Korean Court Acquits Former Wemade CEO in Wemix Case
According to ChainCatcher, citing a report from Cointelegraph, the Seoul Southern District Court ruled on Tuesday that former Wemade CEO Jang Hyun-guk was not guilty of manipulating the circulation of WEMIX tokens.
Prosecutors had accused him of concealing the continued sale of over $200 million worth of tokens in 2022, but the court found insufficient evidence of intentional market manipulation. Following the news, WEMIX saw a short-term surge, but it remains down about 97% from its 2021 peak.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Yearn Finance details the $9 million yETH exploit, confirms partial asset recovery and announces remediation plan
Data: BTC rebounds to $94,000, but the market remains unconvinced
US November New York Fed 1-year inflation expectation at 3.2%, previous value 3.24%
Jupiter platform's WET token public sale shares sold out instantly again
Trending news
MoreCrypto prices
More
