Wemix has been delisted for the second time, and the husband of South Korean actress Jeon Ji-hyun, who manages a fund, has incurred losses exceeding 15.8 billion won on Wemade stocks.

NFTCollectorCN · 2025-06-07T10:29:08+00:00

The Wemade stocks held by Alpha Asset Management are facing huge losses due to the delisting of the virtual money Wemix from the trading platform. Wemix was officially delisted after experiencing a hacker attack, and market hopes for a rebound in Wemade's stock price have dropped. The company's CEO is the husband of Jun Ji-hyun, and Alpha's past investments are now showing unrealized losses of 15.8 billion won.

NFTCollectorCN

2025-06-07 10:29:08

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On June 7, private sale fund operator Alpha Asset Management held Wemade shares worth 35 billion Korean Won, currently facing expanding losses. As the virtual money Wemix, which once pumped Wemade’s stock price, has been delisted again by the trading platform, hopes for a rebound in the stock price are gradually fading. The company’s CEO is Choi Jun-hyuk, who is the husband of South Korean actress Jeon Ji-hyun.

Wemix has been officially delisted by domestic cryptocurrency trading platforms in South Korea after experiencing its second delisting. Previously, Wemade had submitted a ban application against four exchanges affiliated with the Digital Asset Exchange Alliance (DAXA), but it was rejected by the 50th Civil Division of the Seoul Central District Court (Presiding Judge Kim Sang-hoon) on the 30th of last month.

Wemix is a virtual money issued by the South Korean gaming company Wemade through its subsidiary, aiming to build a blockchain gaming ecosystem. DAXA decided to delist Wemix again on the 2nd of this month, citing that Wemix suffered a hacker attack on February 28 and lost tokens worth 9 billion won, and publicly announced this news on the 4th of this month. The coin had previously been listed as a trading caution project.

The decision to delist Wemix a second time has intensified concerns at Alpha Asset Management. As Wemade’s operating conditions worsen, the possibility of Wemix rising to pump Wemade’s stock price has completely evaporated. In the past, whenever the price of Wemix rose or favorable news emerged, Wemade’s stock price would also increase.

Alpha Asset Management Company purchased Wemade stocks for 15 billion KRW and 20 billion KRW at prices of 34,894 KRW and 63,887 KRW per share, respectively, in October 2023 and January 2024. As of June 2, Wemade’s closing price was only 25,000 KRW, estimating a paper loss of up to 15.8 billion KRW (approximately 11.66 million USD).

WEMIX-3.39%

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