'Wemix circulating volume manipulation' Jang Hyun-guk former CEO acquitted in first trial...Wemade also acquitted

The former CEO of Wemade, Jang Hyun-guk, who was put on trial for allegedly deceiving on the distribution volume of WEMIX and taking undue profits, was acquitted in the first trial. The corporation Wemade that was prosecuted together was also acquitted.

According to a report by NewsPim on the 15th, the court judged, “The capital market is the market where Wemade shares are traded, and WEMIX is a separate virtual asset, so the two are different in nature.” It further stated, “It is difficult to view the defendant's actions or statements as having harmed Wemade stock investors.”

This ruling has been noted as one of the first criminal trials related to virtual assets in Korea and may serve as an important precedent for future judicial judgments related to digital assets.