PANews, July 15 news, according to South Korean media News1, the Southern District Court of Seoul has acquitted former Wemade CEO Jang Hyun-guk, finding no evidence that he intentionally manipulated the market price of WEMIX Crypto Assets through fraudulent means. It is reported that the prosecution accused Jang Hyun-guk of falsely announcing the cessation of WEMIX Token liquidation to stabilize prices and induce investor confidence, but the court found a lack of clear evidence to prove his intent to manipulate the market. WEMIX Token has fallen 97% since its historical high, now priced at $0.63. The prosecution can still appeal the decision.

Golden Finance reported that the Decentralized Finance platform Wemix.fi of Cryptocurrency Wemix announced the suspension of lending services on July 30. Wemix.fi stated that the suspension of lending and liquidation functions is related to issues related to the liquidation of the Stable Coin WEMIX pegged to the US dollar on the platform. The announcement promised to soon release a notice of service restoration. Wemix.fi did not provide detailed information on the liquidation of its Stable Coin.

Odaily Planet Daily News According to official sources, due to liquidation-related issues, WEMIX announced the partial suspension of WEMIX.Fi services, involving lending and liquidation functions, but other services are still available. The specific time for resumption of services and other measures will be notified separately.

South Korean blockchain game platform WEMIX will implement the Brioche hard fork on July 1st, limiting the total supply to 5.88 billion coins, and burning approximately 4.35 billion tokens from the foundation to introduce revised minting rules and enhanced WEMIX PLAY, integrating blockchain technology.

On September 6th, it was reported that Zhang Xiangguo, former CEO of Wemade, who was under investigation for manipulating the issuance of Wemix, resigned from his position in March. Wemade is now operated under the sole CEO, Lee Jixian.

WEMIX has stopped the token burning plan and shifted towards ecosystem expansion to balance supply, circulation, and the sustainability of the ecosystem. The team will continue to promote a deflationary token economy through the WEMIX Pay buyback plan. The foundation implements token burning through six large-scale burnings, batch burnings, and automatic burnings. 435 million WEMIX were burned in the Brioche hard fork on July 1st.

Jinse Finance reported that according to Yonhap News Agency, South Korean prosecutors conducted the first investigation against former congressman Kim Nam-guk for possible illegal cryptocurrency trading activities during his tenure as a congressman. Earlier, there were reports that former congressman Kim Nam-guk held Virtual Money such as Wemix Coin, Mabrex, BORA, with a total value of up to 6 billion Korean won (approximately 4.48 million US dollars), which raised public suspicions about the source and use of his investment funds. He is also suspected of engaging in improper transactions using undisclosed information obtained from the gaming industry, profiting from buying coins at low prices.