← WEMIX / WEMIX$ Stablecoinreviewed 2026-10-17 · 24 claims checked
Fact-check findings
What an automated fact-checker found when it re-read WEMIX / WEMIX$ Stablecoin against the sources the page cites. Only the most recent review is shown.
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These findings are produced by an automated reviewer, and its results vary between runs: the same page, checked three times on the same day, came back with 15%, 20% and 34% of its claims disputed, mostly because each run extracted a different number of claims. Treat what follows as leads, not rulings.
“Disputed” means the reviewer could not reconcile the claim with the evidence it cited. It does not mean the claim is false. “Unverifiable” means no reachable source settled it either way.
Nothing here changes the page on its own. A proposed correction is applied only after a human moderator approves it; until then the page reads as it did when reviewed.
disputed
2 claimsThe reviewer could not reconcile the claim with the evidence it cited. This is a lead, not a ruling that the claim is false.
- #12[disputed][awaiting moderator]in section: February 2025 Play Bridge Vault Hack
“a practice suspected to have occurred as early as mid-2023, giving attackers roughly two months to plan before executing 15 withdrawal attempts, 13 of which were successful”
reviewerThe leaked keys were uploaded to a shared repository 'as early as mid-2023,' giving attackers roughly two months to plan.Internally inconsistent: if the repository upload happened in mid-2023, attackers would have had ~20 months, not 'roughly two months,' to plan. All sources checked place the key theft about two months before the Feb 2025 hack. The 'mid-2023' date appears to be an unsupported addition.Proposed correction (not yet applied)a practice suspected to have occurred approximately two months before the breach, giving attackers time to plan before executing 15 withdrawal attempts, 13 of which were successful - #16[disputed][awaiting moderator]in the timeline
“Seoul court denies Wemade's injunction request against first WEMIX delisting. Token falls from approximately $1.55 to $0.46.”
reviewerOn Dec 8, 2022, the Seoul court's injunction denial caused WEMIX to fall from approximately $1.55 to $0.46.The page's own cited source for this entry (CoinDesk) contradicts the $0.46 figure, reporting a drop to an all-time low of $0.13 after the court ruling. The $1.55→$0.46 price swing actually belongs to the Nov. 24, 2022 delisting-announcement date, not the Dec. 8 court-denial date.Proposed correction (not yet applied)Seoul court denies Wemade's injunction request against first WEMIX delisting, clearing the way for trading to end that day.
unverifiable
4 claimsNo source the reviewer could reach confirms or contradicts the claim.
- #3[unverifiable][awaiting moderator]in section: Platform Overview
“Total registered users on WEMIX Play grew from approximately 417,000 in 2024 to over 5.42 million by end-2025, a roughly 1,200% year-over-year increase.”
reviewerWEMIX Play registered users grew from approximately 417,000 in 2024 to over 5.42 million by end-2025, a roughly 1,200% year-over-year increase.This specific, highly quotable growth statistic (1,200% YoY) does not appear in either cited source and could not be corroborated anywhere else in a search. It should be treated as unsupported pending a primary source (e.g. a Wemade investor disclosure). - #4[unverifiable][awaiting moderator]in the summary
“serving over 5.4 million registered users across multiple Web3 gaming titles as of end-2025”
reviewerThe summary repeats the same unsupported user growth figure: 'serving over 5.4 million registered users... as of end-2025.'Same unsupported figure as in Platform Overview, repeated in the summary. Grouped under the same defect so it can be fixed in both places together. - #9[unverifiable][awaiting moderator]in section: July 2026 WEMIX$ Stablecoin Admin Exploit
“WEMIX.Fi's total value locked dropped approximately 66% following these emergency measures.”
reviewerWEMIX.Fi's total value locked dropped approximately 66% following the emergency measures.A 66% TVL-drop figure turned up in only one weak, truncated secondary source found via search, and is absent from the page's own cited sources. Could not independently confirm. - #10[unverifiable][awaiting moderator]in section: July 2026 WEMIX$ Stablecoin Admin Exploit
“The WEMIX$ stablecoin devalued by approximately 98.9% in the week following the breach.”
reviewerThe WEMIX$ stablecoin devalued by approximately 98.9% in the week following the breach.Could not independently confirm the specific 98.9%/one-week framing; the magnitude of collapse is directionally plausible but not pinned down by any source I could access.
partially supported
5 claimsThe cited evidence supports part of the claim but not all of it.
- #2[partially supported][awaiting moderator]in section: Platform Overview
“The WEMIX3.0 mainnet uses a Stake-based Proof of Authority (SPoA) consensus mechanism governed by 40 elected Node Council Partners (NCPs), colloquially called 'WONDER' nodes, each required to stake 1.5 million WEMIX tokens.”
reviewerWEMIX3.0 uses Stake-based Proof of Authority (SPoA) governed by 40 elected Node Council Partners ('WONDER' nodes), each staking 1.5 million WEMIX.The underlying facts check out via other sources, but the specific official documentation cited for this sentence does not actually contain the NCP count, the WONDER nickname, or the stake amount — those details come from secondary research sources not cited here. - #7[partially supported][awaiting moderator]in section: July 2026 WEMIX$ Stablecoin Admin Exploit
“The total estimated loss was approximately $6.25 million.”
reviewerThe total estimated loss from the July 2026 exploit was approximately $6.25 million.The $6.25M figure is reported in headlines but conflates the face value of unauthorized minting with the amount actually bridged off-chain (~$724K); several of the page's own cited outlets flag this distinction explicitly. Presenting $6.25M alone as 'the total estimated loss' overstates realized damage without that caveat. - #8[partially supported][awaiting moderator]in the summary
“minted 5.23 million unauthorized tokens worth approximately $6.25M”
reviewerThe July 2026 exploit minted tokens 'worth approximately $6.25M' (summary).Same defect as the section-2 finding; grouped together. - #15[partially supported][awaiting moderator]in section: Token Price and Market History
“The first DAXA delisting in December 2022 caused the token to fall from approximately $1.55 to $0.46 within hours, erasing roughly $287 million in market capitalization.”
reviewerFirst DAXA delisting: voted Nov 24, 2022, effective Dec 8, 2022; Seoul court denied Wemade's injunction; token fell from ~$1.55 to ~$0.46 within hours, erasing ~$287M market cap.The dollar figures and market-cap loss are corroborated, but the timing attribution is loose: the steep $1.55→$0.46 crash happened on the Nov. 24, 2022 announcement, not on 'the first DAXA delisting in December 2022' as implied. See the related timeline-entry finding for the sharper version of this error. - #17[partially supported][awaiting moderator]in section: South Korean Exchange Delistings and Court Proceedings
“WEMIX was gradually relisted on domestic exchanges between February and August 2023 following remediation efforts.”
reviewerWEMIX was gradually relisted on domestic exchanges between February and August 2023.The February 2023 start date is confirmed; the 'through August 2023' endpoint and the implication that all major exchanges (including Upbit) relisted within that window could not be verified in any source checked.
confirmed
13 claimsThe cited evidence supports the claim as written.
- #1[confirmed][no action needed]in section: Platform Overview
“WEMIX is an EVM-compatible Layer 1 blockchain developed and operated by Wemade Co., Ltd., a South Korean game developer incorporated in February 2000 and listed on the Korea Stock Exchange. Wemade is known for creating the 'Legend of Mir' MMORPG series, which reportedly attracted over 120 million users across Asia.”
reviewerWemade is a South Korean game developer incorporated in February 2000, listed on the Korea Stock Exchange, known for the Legend of Mir MMORPG series with 120M+ users across Asia.Standard, uncontested corporate background facts. Source is a low-tier wiki but the facts are independently well known and not disputed by any other reporting found. - #5[confirmed][no action needed]in section: July 2026 WEMIX$ Stablecoin Admin Exploit
“On July 26, 2026 at approximately 09:17 UTC, an unidentified attacker gained administrator-level ownership over a smart contract linked to the WEMIX$ stablecoin on the WEMIX3.0 network.”
reviewerOn July 26, 2026 at approximately 09:17 UTC, an attacker gained admin-level ownership over the WEMIX$ contract and minted approximately 5,225,525 WEMIX$ tokens.Date, time, and mint amount are corroborated across multiple independently-reported sources. - #6[confirmed][no action needed]in section: July 2026 WEMIX$ Stablecoin Admin Exploit
“The attacker converted these tokens into approximately 30,736 WEMIX native tokens and 724,198.27 USDC.e via decentralized exchange swaps, then bridged the USDC.e from WEMIX3.0 to Ethereum and BNB Smart Chain, where funds were further converted into ETH and USDT and dispersed across multiple wallets, with portions deposited at centralized exchanges.”
reviewerThe minted tokens were converted into approximately 30,736 WEMIX and 724,198.27 USDC.e, then bridged to Ethereum and BNB Smart Chain.Well-corroborated across sources. - #11[confirmed][no action needed]in section: February 2025 Play Bridge Vault Hack
“On February 28, 2025, attackers drained approximately 8.65 million WEMIX tokens from the Play Bridge Vault, the proprietary cross-chain bridge infrastructure. The stolen tokens were valued at approximately $6.1 to $6.2 million at the time. The breach was traced to compromised authentication keys used for monitoring the NILE NFT platform.”
reviewerOn February 28, 2025, attackers drained approximately 8.65 million WEMIX tokens ($6.1-6.2M) from the Play Bridge Vault via compromised NILE-monitoring authentication keys, with 15 withdrawal attempts (13 successful).Core facts of the February 2025 hack are well corroborated. - #13[confirmed][no action needed]in section: Disclosure Delay and CEO Controversy (2025)
“During the four-day window, the WEMIX token price declined approximately 18% before the announcement, falling further to a 40% cumulative drop by the time of disclosure, raising questions about whether informed parties may have had advance knowledge.”
reviewerWemade CEO Kim Seok-hwan disclosed the Feb 28 2025 hack on March 4, 2025, four days later, citing risk of further attacks as the reason; price fell ~18% before the announcement and 40% cumulatively by disclosure.Figures and quote match the cited source precisely. - #14[confirmed][no action needed]in section: Disclosure Delay and CEO Controversy (2025)
“The Digital Asset eXchange Alliance (DAXA) — the joint body of South Korea's five major crypto exchanges — cited the disclosure failure as a central reason for its decision to delist WEMIX from domestic exchanges.”
reviewerDAXA cited the disclosure failure as a central reason for delisting WEMIX a second time.Confirmed by court record language. - #18[confirmed][no action needed]in section: Token Price and Market History
“Following relisting, WEMIX recovered to approximately $4.35 at its 2023 peak.”
reviewerWEMIX recovered to approximately $4.35 at its 2023 peak.Matches the cited aggregator source. - #19[confirmed][no action needed]in section: South Korean Exchange Delistings and Court Proceedings
“Following the February 2025 hack and delayed disclosure, DAXA announced a second delisting on May 2, 2025, with trading suspension effective June 2, 2025, and withdrawal services discontinued as of July 2, 2025.”
reviewerDAXA announced the second delisting May 2, 2025; trading suspension effective June 2, 2025; withdrawal services discontinued July 2, 2025; token plunged ~60% (from ~$0.72 to ~$0.27) within ~15 minutes.All dates and the price-drop magnitude/timeframe match the cited sources exactly. - #20[confirmed][no action needed]in section: South Korean Exchange Delistings and Court Proceedings
“On May 30, 2025, the Seoul Central District Court's Civil Division 50 dismissed Wemade's injunction request.”
reviewerOn May 30, 2025, Seoul Central District Court's Civil Division 50 dismissed Wemade's injunction request against the second delisting.Court division number and date confirmed. - #21[confirmed][no action needed]in section: South Korean Exchange Delistings and Court Proceedings
“On September 9, 2025, the Seoul High Court's Civil Division 25-1 dismissed Wemade's appeal, ruling that Wemade and WEMIX had not faithfully disclosed important matters related to the coin, and that initial circumstances of the system breach had not been properly confirmed.”
reviewerOn September 9, 2025, the Seoul High Court's Civil Division 25-1 dismissed Wemade's appeal, ruling Wemade had not faithfully disclosed important matters and that initial breach circumstances had not been properly confirmed.Exact match to the cited source's content, including court division and ruling language. - #22[confirmed][no action needed]in section: South Korean Exchange Delistings and Court Proceedings
“Separately, Wemade filed an antitrust complaint with the Korea Fair Trade Commission (KFTC) in May 2025, alleging the five exchanges violated Article 40 of the Monopoly Regulation and Fair Trade Act through coordinated delisting — a complaint that remained unresolved as of the time of reporting.”
reviewerWemade filed an antitrust complaint with the KFTC in May 2025 alleging the five exchanges violated Article 40 of the Monopoly Regulation and Fair Trade Act.Confirmed via direct fetch of the cited live article. - #23[confirmed][no action needed]in section: 2022 Token Circulation Misreporting Controversy
“In October 2022, DAXA issued an investment warning against WEMIX, alleging significant discrepancies between the reported and actual circulating supply of WEMIX tokens.”
reviewerIn October 2022, DAXA issued an investment warning alleging circulation discrepancies; DAXA voted to delist in November 2022, effective December 2022; Seoul court denied the injunction.Timeline dates (2022-10-27 warning, 2022-11-24 vote) match independently confirmed reporting. - #24[confirmed][no action needed]in section: Token Price and Market History
“WEMIX reached an all-time high of approximately $24.68 in November 2021, driven by the MIR4 play-to-earn game launch which achieved over 1.4 million concurrent users.”
reviewerWEMIX reached an all-time high of approximately $24.68 in November 2021, driven by the MIR4 launch with 1.4M+ concurrent users.Confirmed across independent price aggregators and Wemade's own disclosures.
How this fits together. The reviewer reads the published page and its cited sources and records one finding per claim. A human moderator decides whether each proposed correction is applied; those decisions, and the score changes they cause, appear in the audit log. Earlier review runs are not shown here; only the latest reflects the page as it stands.