The gaming platform Wemix was hacked in February and lost $6.22 million, with the CEO admitting to being slow to notify but denying any intention to hide it

2025-03-17 05:44:05

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On March 17, according to Yonhap News Agency, Kim Seok-hwan, a representative of the Wemix Foundation, a blockchain subsidiary of Wemade, admitted at an emergency meeting that he had lost about 8.65 million WEMIX tokens (worth about $6.22 million) due to hacking attacks.

Hackers attacked the Play Bridge Vault system on February 28 by stealing the authentication key for the NFT platform ‘Nile’. Kim Seok-hwan explained that the delay in notification was for fear of triggering more attacks and market panic, stressing that “there was absolutely no thought or attempt to cover up the incident.”

Wemix has filed a police report and launched a buyback program worth 10 billion won to protect investors. The company plans to fully resume services on March 21 and will improve its crisis response protocols, including investor communications. Currently, the Korea Digital Asset Exchange Association has designated WEMIX as a trading alert item and suspended deposits.

WEMIX-6.11%

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