📉 A complex situation for Wemix… former CEO acquitted but doubts remain!
📍After a year of judicial investigations, a South Korean court acquitted the former CEO of Wemade, Jang Hyun-guk, of the charge of manipulating the Wemix digital currency market.
🔍 The court confirmed that there was no clear intent to manipulate prices, despite the prosecution's accusations that he manipulated freezing announcements to mislead investors.
However, the case is not completely closed, as the prosecution may appeal the ruling.
📉 Despite the acquittal, trust in the Wemix project has taken successive hits:
• The currency has lost more than 97% of its value since its peak in 2021.
• It was removed from all major South Korean exchanges by the end of 2023.
• The organization was later accused of “covering up” after a hack and theft of $6 million in February 2025.
💬 While company officials insist they acted in good faith, the market remains unsympathetic, especially after their delay in announcing the hack.
📌 The current price of $WEMIX: 0.63$ , down from $24.71!
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