As the suspicion surrounding Democratic Party lawmaker Kim Nam-guk’s coin investment continues, Wemix virtual currency investors sued WeMade CEO Jang Hyun-guk to the Seoul South District Prosecutor’s Office.
According to the legal community on the 13th, the Kwangya law firm filed a complaint with the Seoul South District Prosecutors Office on the 11th, requesting an investigation into fraud and fraudulent transactions under the Capital Markets Act. About 20 investors were known to have participated in the lawsuit.
Kwangya’s side said, “WeMade deceived investors with false information in the process of publishing and selling Wemix, causing great damage.”
Wemix is a virtual currency P2E (Play to Win, money making game) published in 2020 by WeMade, a domestic game company that developed the ‘Legend of Mir’ series. P2E games allow the resources obtained from games to be exchanged for virtual currency, but P2E game sales are illegal in Korea. WeMade caused controversy in January last year by selling a large amount of Wemix, but at the end of last year, it was notified of its removal from the Digital Asset Exchange Joint Advisory Body (DAXA) for distributing more Wemix than the distribution plan public.
On the other hand, inside and outside the game industry, there are also talks about whether WeMade or related companies paid coins through ‘airdrop’ about how Congressman Kim had a large amount of coins Wemix. Airdrop is a method by which an exchange or coin issuing company gives a new coin free of charge to a coin holder according to an investment ratio, etc., for the purpose of an event or marketing. Rep. Kim strongly denied the claim that he received free coins through the airdrop method that day, saying, “It’s absurd.”
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