WEMIX / WEMIX$ Stablecoin
Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.
anchored·wPDRTL…znunSummary
WEMIX is a South Korean Layer 1 blockchain gaming platform operated by publicly listed game developer Wemade, serving over 5.4 million registered users across multiple Web3 gaming titles as of end-2025. The platform has experienced three major governance or security failures since 2022, including two hacks totaling approximately $12.3M in losses and two rounds of delisting from South Korean domestic exchanges, with the second delisting upheld by Seoul courts in September 2025. A July 2026 exploit — WEMIX's second critical security incident in 18 months — compromised admin-level control over the WEMIX$ stablecoin contract and minted 5.23 million unauthorized tokens worth approximately $6.25M, exposing a systemic architectural vulnerability in the project's centralized key management model.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(14 events)
November 2021
WEMIX token reaches all-time high of approximately $24.68, driven by MIR4 play-to-earn launch with over 1.4 million concurrent users.
CoinLore / CryptoNews historical data27 October 2022
DAXA issues investment warning against WEMIX, alleging discrepancies between reported and actual token circulation volumes.
Korea Herald24 November 2022
DAXA votes to delist WEMIX from Upbit, Bithumb, Coinone, and Korbit, citing false information in circulation disclosure.
CoinDesk8 December 2022
Seoul court denies Wemade's injunction request against first WEMIX delisting. Token falls from approximately $1.55 to $0.46.
CoinDeskAugust 2023
WEMIX relisted on domestic South Korean exchanges following remediation efforts. Token recovers to approximately $4.35 during 2023 peak.
The Korea Times28 February 2025
Attackers drain approximately 8.65 million WEMIX tokens (approximately $6.1-6.2M) from the Play Bridge Vault using compromised authentication keys linked to the NILE NFT monitoring system.
Halborn Security / CryptoTimes4 March 2025
Wemade CEO Kim Seok-hwan publicly discloses the February 28 hack, four days after the incident. He cites prevention of panic and further exploitation as justification for the delay.
CryptoTimes2 May 2025
DAXA announces second delisting of WEMIX from domestic exchanges citing the hack, four-day disclosure delay, and insufficient remediation. WEMIX token plunges approximately 60% within minutes.
The Block / The Korea Times30 May 2025
Seoul Central District Court dismisses Wemade's injunction request against the second delisting, ruling that WEMIX failed to faithfully disclose the hack.
Asia Economy Daily / CryptoNews2 June 2025
Second WEMIX delisting from South Korean domestic exchanges takes effect. WEMIX becomes the first cryptocurrency to be delisted twice in South Korea.
The Korea Times2 July 2025
Withdrawal services for WEMIX on domestic South Korean exchanges discontinued.
The Korea Times9 September 2025
Seoul High Court dismisses Wemade's appeal against the second delisting, upholding the lower court ruling that WEMIX had not faithfully disclosed material information.
Asia Economy Daily26 July 2026
At 09:17 UTC, attacker gains owner-level admin control over the WEMIX$ stablecoin contract and mints 5,225,525 unauthorized WEMIX$ tokens. Converted funds (724,198 USDC.e and 30,736 WEMIX) are bridged to Ethereum and BNB Smart Chain.
CryptoTimes / Crypto.news / CryptoSlate27 July 2026
WEMIX confirms the breach and announces suspension of all bridges, liquidity pools, WEMIX$ module, and PNIX DEX. WEMIX.Fi TVL drops approximately 66%. Incident confirmed approximately 15 hours after first detection.
CryptoTimes / BitcoinWorld / KuCoinDecision Log
- hash: GjmmKLu2TcuMpNjR7U63GFAG6qS9Hhu6jjM3gg3KyddP
- hash: 2kN3k1fiPaKSGoufUraomL1AXYhbyxVsooojYh1MA67p
- hash: 2F1b99chjidX6V1xcbNSouz1ijwhqMXUJXShKDmESmFh
This investigation is cryptographically anchored to the Solana blockchain (3 events). 20 of 23 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/3/2026, 12:09:53 PM
last updated: 8/26/2026, 11:32:52 AM
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