Attention: This Metaverse Project and Altcoin Have Been Listed as “Suspicious Investment”!

A game based in South Korea and metaverse project, WeMade, has been placed on the “investment alert” list by the country’s crypto exchanges after it published figures that misrepresented the token supply. WeMade said it accidentally left some tokens out of the calculation.

Cryptocurrency Exchanges Issue Alert About WEMIX Token and Project Metaverse

Cryptocurrency exchange UpBit is 72 million more than WeMade reported in a statement to investors. Wemix He said his token is in circulation. Alongside UpBit, rival exchanges Bithumb, Korbit and Coinone also issued investment warnings for this altcoin.

In its statement, UpBit said:

“A discrepancy between distribution volume plan information available to DAXA member companies such as Upbit and actual distribution volume has been confirmed.”

DAXA, the Digital Asset Exchange Partner Association, is the country’s independent regulatory body that oversees the legal aspects of crypto offerings.

In a post published on Sunday, WeMade said it mistakenly delisted additional tokens issued to partners and funds in an effort to increase participation in the WeMade ecosystem:

“We acknowledge that there may be some time discrepancy between the WEMIX Quarterly report submission and the real-time circulating supply, and there is some insufficient information in the circulating supply on CoinMarketCap and in communication with exchanges.

As more and more partners believe in and participate in the future of WEMIX and the evolution of the ecosystem, a certain amount of WEMIX is inevitably supplied with each partnership/contract signing, depending on the purpose or form of the cooperative model.”

UpBit said it will continue to review the tokens and may end support for trading on Wemix if any inappropriate activity related to the launch is detected.

*Not investment advice.

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