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WEMIX lost about $6.25M after abnormal issuance of 5.23M WEMIX, with funds bridged to Ethereum and BNB Chain. The attacker swapped the assets into ETH and USDT, moved funds across wallets, and sent part to centralised exchanges as the investigation continues. On July 26, 2026 at 18:17 UTC+9, an abnormal transaction hit the WEMIX ecosystem. The owner authority of WEMIX and the related contract was compromised, giving the attacker the ability to issue WEMIX without authorisation and drain USDC.e from the protocol.
The numbers confirmed so far: approximately 5,225,525 WEMIX$ was abnormally issued and converted into 30,736 WEMIX and 724,198.27 USDC.e. The converted USDC.e was then bridged to Ethereum and BSC, swapped into ETH and USDT, and distributed, with some funds flowing directly into centralised exchanges.
Moreover, the total damage currently stands at approximately $6.25 million, equivalent to around 8.7 billion KRW.
What the WEMIX Team Did Immediately? The WEMIX team moved fast on containment. Both internal and external bridges were suspended, Chainlink CCIP suspension was completed, and the PLAY Bridge was temporarily taken offline.
In addition, the liquidity pool trading for WEMIX-USDC.e, WEMIX-WEMIX$, and several other pairs was halted. Also, the foundation-supplied liquidity was preemptively recovered.
On the service side, WEMIX$ modules, PNIX DEX, and related backend systems were suspended. Blockchain-linked content in select games was blocked, and NFT market trading was paused. Furthermore, the WEMIX PLAY-related functions were put under protective measures.
Tracking the Attacker Attacker addresses have been identified, and on-chain fund flows are being tracked. Multiple global exchanges and stablecoin issuers have been contacted for freezing cooperation, and some exchanges have already completed freezing measures on addresses linked to the attack.
Furthermore, a full inspection of identical and related contracts is underway alongside external expert involvement.
An exploit of this scale, with bridges suspended and liquidity pools offline, hints that WEMIX faces immediate selling pressure and user uncertainty until a full incident report and recovery plan are published. The speed of containment matters here; every hour without clarity increases the reputational damage beyond the financial one.
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Key Points Unauthorized access to WEMIX$ stablecoin contract owner privileges occurred on July 26, enabling the minting of 5.23 million tokens. Stolen tokens were exchanged for 30,736 WEMIX and 724,198 USDC.e, then transferred across Ethereum and BNB Smart Chain. All WEMIX bridges, liquidity pools, PNIX exchange, and WEMIX$ Module operations were immediately suspended following the incident. Multiple cryptocurrency exchanges have frozen addresses connected to the breach after receiving emergency requests from WEMIX. This marks WEMIX’s second significant security incident since February 2025, when approximately $6 million was stolen from the network. WEMIX, a blockchain gaming platform, disclosed on July 26 that unauthorized parties had successfully gained administrative control over its WEMIX$ stablecoin smart contract. The security incident was detected at around 9:17 UTC.
JUST IN: WEMIX suspends bridge services and wemix-token:native trading after an attacker exploited a linked smart contract, stealing approximately $724,000. The network has frozen affected funds and paused key services while the investigation continues. pic.twitter.com/2KUPwTgOd3
— EyeWhales (@EyeWhales) July 27, 2026
Exploiting this elevated access, the perpetrator created approximately 5.23 million WEMIX$ tokens through unauthorized minting operations. These illicitly generated tokens were subsequently exchanged for 30,736 WEMIX tokens and 724,198.27 USDC.e.
The stolen USDC.e was then transferred via bridge protocols to both Ethereum and BNB Smart Chain networks. Following the cross-chain transfers, portions of the funds were exchanged for Ether and Tether’s USDT, with the proceeds distributed among numerous wallet addresses.
A portion of the compromised assets eventually made its way to centralized cryptocurrency exchanges. WEMIX successfully traced the attacker’s wallet addresses and immediately reached out to both exchanges and stablecoin issuers with urgent freeze requests. The company has verified that multiple trading platforms have already locked the identified addresses.
However, WEMIX has not disclosed which specific exchanges took action or provided details on the exact amount of frozen or recovered funds.
Network-Wide Service Interruptions Implemented Following the security incident, WEMIX immediately implemented emergency measures by shutting down all bridging infrastructure connected to the WEMIX3.0 ecosystem. This included suspending both Chainlink CCIP and the PLAY Bridge services.
All trading activity in impacted liquidity pools was frozen. WEMIX pulled foundation-backed liquidity from affected pools and disabled both the WEMIX$ Module and PNIX decentralized exchange platform while conducting a comprehensive audit of contract access permissions.
According to WEMIX’s statement, the investigation into how the owner-level privileges were compromised remains ongoing. The team cautioned that preliminary damage estimates may be adjusted as their cross-chain investigation progresses.
Market data from CoinGecko revealed that WEMIX$ plummeted to near its all-time low following news of the breach, experiencing a weekly price drop of approximately 98.9%. The collapse was triggered by the unauthorized token creation and subsequent rapid liquidation.
The timing of this breach is particularly unfortunate, as WEMIX had been actively transitioning away from WEMIX$ in favor of USDC.e throughout its gaming ecosystem and financial services. The company announced in March that WEMIX PLAY would migrate its primary currency from WEMIX$ to USDC.e, with the complete changeover planned for April.
Another Major Hack Within Two Years This current security failure represents the second significant breach WEMIX has experienced in recent history. Back in February 2025, malicious actors successfully extracted roughly 8.6 million WEMIX tokens from the Play Bridge Vault, valued at approximately $6.04 million during the time of theft.
That previous incident generated substantial controversy due to WEMIX’s delayed disclosure, which came several days after the breach was initially discovered. In response, South Korea’s leading cryptocurrency exchanges—Upbit, Bithumb, Coinone, Korbit, and Gopax—took coordinated action to delist WEMIX tokens in June 2025.
This latest security incident occurred just as the project was nearing the eligibility window for seeking relisting on Korean domestic exchanges. WEMIX has not yet published a comprehensive post-mortem analysis, identified the origin of the credential compromise, or disclosed the final amount of unrecovered assets.
WEMIX, a blockchain ecosystem, reported a major smart contract compromise on the 26th of July, after an attacker obtained owner privileges.
The attacker then minted and transferred approximately $6.25 million worth of WEMIX tokens, raising immediate concerns about protocol security. Furthermore, the breach exposed weaknesses in privileged contract access rather than in ordinary user wallets.
Source: WEMIX.com That discovery increased scrutiny of the project’s internal security controls. Meanwhile, the team identified the affected addresses and began working with exchanges and blockchain security firms to trace the funds.
The investigation remains active, and new findings may emerge. Ultimately, WEMIX must contain the breach quickly, strengthen contract security, and restore investor confidence through transparent updates.
On-chain transfers reveal the attack flow The attacker quickly shifted from contract exploitation to dispersing the stolen assets, increasing the challenge of fund recovery. After minting 5.23 million WEMIX$, the attacker converted the tokens into 30,736 WEMIX and 724,198.27 USDC.e.
Source: WEMIX.com The funds then moved through Ethereum [ETH] and BNB Chain before reaching ETH, Tether [USDT], and other assets. That sequence reduced direct traceability and increased the risk of broader distribution across multiple platforms.
Meanwhile, WEMIX traced the attacker’s wallets and secured cooperation from exchanges, with several already freezing linked addresses. Those measures could slow additional transfers.
Nevertheless, each successful cross-chain transfer further reduces the chances of recovery.
Can containment restore confidence? WEMIX then focused on limiting the potential for further losses in the ecosystem by tracking the location of the missing funds.
The team immediately disabled all active WEMIX3.0 Bridge functionality, disarmed select liquidity pools, and halted operation of other relevant functions to prevent future funds from being transferred. This enabled investigators to obtain additional time to follow the chain of transaction history and communicate directly with exchange operators who froze identified attacker-address accounts associated with stolen assets.
Still, investigators continue reviewing related contracts to uncover the attack path and close remaining security gaps. Technical safeguards may contain the immediate threat. However, restoring confidence will require transparent communication, stronger security controls, and sustained ecosystem stability over time.
Final Summary WEMIX suffered a $6.25 million smart contract exploit, with cross-chain fund transfers making asset recovery increasingly difficult. WEMIX containment efforts will determine whether the exploit remains isolated or causes broader ecosystem disruption.
Two crypto platforms disclosed security incidents over the weekend. WEMIX said ownership of a WEMIX$-related contract was compromised, while Garden Finance took its app offline after identifying unusual activity.
Both incidents are small by dollar value. Yet they match the pattern that has shaped crypto security this year, with attack counts climbing to records while individual losses shrink.
What Happened at WEMIX and GardenWEMIX reported abnormal transactions on the evening of July 26. Approximately 5,225,525 WEMIX$ were issued without authorization.
That supply converted into 30,736 WEMIX and 724,198.27 USDC.e. The assets moved through bridges to Ethereum and BSC, then into assets including Ether (ETH) and Tether (USDT).
Some of those assets reached centralized exchanges. WEMIX said it has asked exchanges and stablecoin issuers to freeze the attacker’s wallets.
“All bridges connected to and from WEMIX3.0 have been suspended temporarily. Chainlink CCIP has been suspended, and the PLAY Bridge has also been temporarily suspended,” the platform said.
The company said the cause remains under investigation, and the numbers may change.
Separately, Blockaid flagged an exploit on Garden Finance. The firm counted about $450,000 in USDT drained across Ethereum, Base, Arbitrum (ARB), and BSC at the time of its alert.
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we identified unusual activity on garden today and are looking into it.
the app is temporarily offline while we complete a full investigation.
we'll share updates as soon as we have more information.
— Garden 🌸 (@gardenfi) July 26, 2026 Record Crypto Hacks Define 2026TRM Labs recorded 207 hacks in the first half of 2026. That is more than double the 83 logged a year earlier. The firm said the figure was the highest it had recorded in any six-month period.
However, total hack losses moved in the opposite direction. Roughly $972 million was stolen, against about $2.3 billion in H1 2025.
The data points to a split between frequency and severity. More attacks landed, yet the largest sums concentrated on a handful of high-value targets, including KelpDAO and Drift Protocol.
Last week reinforced the pattern. Lookonchain counted three attacks last week totaling $35.55 million, hitting AFX Trade, the Verus Ethereum bridge, and B2 Network.
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WEMIX says attacker moved about $724,000 after contract breach WEMIX suspended bridges, liquidity-pool trading and several services after an attacker compromised a WEMIX$-linked contract and moved 724,198 USDC.e.
Layer-1 blockchain network WEMIX said an attacker moved about 724,000 in USDC.e tokens after compromising ownership of a contract linked to its WEMIX$ stablecoin and issuing tokens without authorization.
The abnormal transactions occurred on Sunday at 9:17 UTC, according to a preliminary incident update from WEMIX. The attacker issued about 5.23 million WEMIX$, which was converted into 30,736 WEMIX and 724,198.27 USDC.e. The USDC.e was then bridged to Ethereum and BNB Smart Chain before being exchanged for assets including Ether and Tether’s USDT and distributed across multiple addresses.
WEMIX said some of the funds were deposited into centralized exchanges. The company identified the attacker’s wallets and requested asset freezes and assistance from exchanges and stablecoin issuers, adding that some exchanges had already frozen addresses linked to the incident.
The company temporarily suspended all bridges connected to its layer-1 network, WEMIX3.0, including Chainlink CCIP and the PLAY Bridge. It also suspended trading in affected liquidity pools, withdrew foundation-provided liquidity, and paused services including the WEMIX$ Module and PNIX decentralized exchange.
WEMIX said the cause and full impact remain under investigation and warned that the preliminary figures could change.
Cointelegraph contacted WEMIX for additional information but did not receive an immediate response.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
WEMIX, the blockchain gaming platform built by South Korean publisher Wemade, has shut down its bridges and decentralized exchange trading after an attacker drained roughly $724,000 in USDC.e tokens through a linked contract exploit.
The platform suffered a separate, much larger breach back in February 2025 that cost it over 8.65 million WEMIX tokens, worth approximately $6.2 million at the time.
What happened this time The latest incident targeted a contract linked to WEMIX’s infrastructure, allowing the attacker to move about $724K in USDC.e tokens before the team could intervene. In response, WEMIX suspended both its bridge services and DEX trading, effectively freezing cross-chain movement and on-platform swaps.
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WEMIX had been in the process of transitioning from its native WEMIX$ stablecoin to USDC.e on its WEMIX3.0 network, a migration that kicked off around March to April 2026. That transition involved significant liquidity adjustments, which may have introduced new attack surfaces.
A pattern of security problems The February 2025 breach saw attackers compromise the Play Bridge Vault, making off with over 8.65 million WEMIX tokens valued at around $6.2 million. That incident prompted a temporary service halt, a token buyback plan to stabilize the market, and a collaboration with blockchain security firm Theori to conduct a forensic analysis.
At the time, WEMIX CEO Kim Seok-Hwan oversaw the response. The platform eventually resumed operations, but the incident left a mark on investor confidence in the WEMIX ecosystem.
The stablecoin transition adds complexity The move from WEMIX$ to USDC.e was supposed to simplify the platform’s stablecoin infrastructure. Liquidity migrations require rewriting or redeploying contracts, adjusting permissions, and reconfiguring how funds flow between wallets and pools. The latest exploit suggests at least one of those points was not adequately secured.
What this means for investors For anyone holding WEMIX tokens or using the platform’s DeFi services, the immediate concern is straightforward: when do bridges and trading resume, and will there be further losses discovered during the investigation? Neither question has a clear answer yet.
The key metric to watch is how long the suspension lasts. In the 2025 incident, WEMIX resumed operations relatively quickly and backed it up with a buyback program to restore confidence.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Storj Labs has voluntarily filed for Chapter 11 bankruptcy in the United States, seeking to resolve legacy financial obligations while continuing its operations.
The company filed the case on July 26 in the U.S. Bankruptcy Court for the Northern District of West Virginia. Storj said it expects to continue operating normally and does not anticipate interruptions to customer services during the restructuring process.
The filing follows approximately $35 million in fundraising and comes as Storj focuses on its core decentralized cloud storage business. The company is also reviewing previous acquisitions and non-essential operations to streamline its business.
Storj executives described the filing as a restructuring effort rather than a shutdown. Kaloyan Raev, Director of Software Engineering, said the underlying business remains strong but has been weighed down by legacy obligations.
“This process lets us resolve them in an orderly way and come out the other side with a clean foundation.” Raev Said.
The company said its restructuring could eventually allow management, the decentralized community, token holders, and potential investors to share ownership of the reorganized business. Following the news, Storj Price dropped to 9.7% currently trading at $0.066.
WEMIX Stablecoin Hit by $6.25M Smart Contract ExploitSeparately, Wemade’s blockchain platform WEMIX has confirmed a security breach involving its WEMIX stablecoin.
The incident reportedly occurred around 6:18 p.m. on July 26, after the owner authority of a smart contract linked to WEMIX was compromised. The breach allegedly allowed approximately $6.25 million worth of abnormal WEMIX tokens to be issued and moved on-chain.
WEMIX said it has identified addresses believed to be connected to the attack and is tracing the movement of the assets.
Investigation and Response ContinueThe company is working with major cryptocurrency exchanges and blockchain security firms to monitor the movement of the stolen funds. It may also cooperate with law enforcement agencies if necessary.
WEMIX said it will release further details and response measures as the investigation progresses. Users have been urged to rely only on official announcements and avoid unverified information or speculation surrounding the exploit.
Story Ends Here
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WEMIX confirmed that an attacker took control of owner privileges linked to its WEMIX$ stablecoin contract on July 26.
Summary
Compromised owner privileges allowed an attacker to mint approximately 5.23 million new WEMIX$ without authorization. WEMIX suspended bridges, liquidity pools and related services while exchanges traced and froze suspect funds. The incident follows WEMIX’s 2025 bridge hack and comes during its transition toward USDC.e services. The access allowed the attacker to create tokens without approval and move assets through several blockchain networks. An early Korean report valued the abnormal issuance and transfers at about $6.25 million. A later WEMIX update gave a more detailed figure of roughly 5.23 million WEMIX$ minted.
JUST IN: WEMIX suspends bridge services and wemix-token:native trading after an attacker exploited a linked smart contract, stealing approximately $724,000. The network has frozen affected funds and paused key services while the investigation continues. pic.twitter.com/2KUPwTgOd3
— EyeWhales (@EyeWhales) July 27, 2026 The company said the incident began at about 9:17 UTC, or 6:17 p.m. in South Korea. WEMIX identified suspected attacker wallets and asked exchanges and stablecoin issuers to help freeze the assets. It also started tracing the transactions with blockchain security companies. The cause of the owner-privilege compromise remains under investigation, and WEMIX warned that its initial figures may change.
Attacker converts minted WEMIX$ into other assets According to WEMIX’s official incident update, the attacker issued about 5,225,525 WEMIX$ without permission. The attacker then converted the tokens into 30,736 WEMIX and 724,198.27 USDC.e. This official breakdown differs from the first $6.25 million estimate, which covered the wider abnormal issuance and movement reported on-chain.
The attacker bridged USDC.e to Ethereum and BNB Smart Chain before swapping parts of the funds into assets including ETH and USDT. Some assets also reached centralised exchanges. WEMIX said several exchanges had frozen linked addresses after receiving requests for help. However, the company has not named those exchanges or stated how much money remains frozen, recoverable or under attacker control.
The company has not said whether ordinary user balances were directly affected. It also has not published a full list of compromised contracts, transaction hashes or recovery amounts. Those details matter because the nominal value of tokens created does not equal the amount successfully converted and removed. WEMIX said its review now continues across several networks.
WEMIX suspends bridges and affected services WEMIX temporarily stopped all bridges connected to the WEMIX3.0 network. The suspension covered Chainlink CCIP and the PLAY Bridge. The company also paused trading in affected liquidity pools, removed foundation-provided liquidity and stopped the WEMIX$ Module and PNIX decentralised exchange. These steps aimed to block additional transfers while the team reviewed contract permissions and related systems.
In its first notice, WEMIX said it had confirmed abnormal transactions and was “currently analysing the cause of the incident and taking emergency measures.” The company said it would publish more findings as investigators confirm them. It also asked users to rely on official channels instead of unverified posts. WEMIX may contact law enforcement agencies if tracing work identifies evidence that requires formal action.
Stablecoin loses peg during planned USDC.e transition WEMIX$ was designed to track the U.S. dollar on the WEMIX3.0 network. CoinGecko data showed the stablecoin falling close to its recorded low after the breach, with a weekly decline of about 98.9%. The price move followed the unauthorised minting and rapid conversion of newly created tokens, although the final financial loss remains separate from the amount minted.
The incident came while WEMIX was already replacing WEMIX$ with USDC.e across its gaming and financial services. In March, the company announced that WEMIX PLAY would change its base currency from WEMIX$ to USDC.e. It scheduled the main service transition for April and began closing or reorganising older WEMIX$ pools. The breached contract therefore belonged to a stablecoin system already moving toward reduced use.
New breach follows the 2025 Play Bridge hack The latest event follows a separate WEMIX security breach in February 2025. As crypto.news previously reported, attackers removed about 8.6 million WEMIX tokens, then worth roughly $6.04 million, from the Play Bridge Vault. WEMIX shut the affected server and reported the case to the Seoul Metropolitan Police Agency’s cyber investigation unit.
That earlier incident also led to criticism because WEMIX disclosed it several days after discovering the breach. South Korea’s major exchanges later delisted WEMIX in June 2025. As related crypto.news coverage noted, Upbit, Bithumb, Coinone, Korbit and Gopax coordinated the action through the Digital Asset Exchange Alliance. The new contract breach occurred as the project approached the period when a future domestic relisting application could become possible.
WEMIX has not released a final attack report, named the source of the stolen owner credentials or confirmed the total unrecovered loss. Its latest response focuses on wallet tracing, service suspensions, asset-freeze requests and contract analysis. Further notices are expected to clarify whether the attacker exploited code, obtained a private key or accessed an internal account with contract-control rights.
WEMIX says attacker moved about $724,000 after contract breach WEMIX suspended bridges, liquidity-pool trading and several services after an attacker compromised a WEMIX$-linked contract and moved 724,198 USDC.e.
Layer-1 blockchain network WEMIX said an attacker moved about 724,000 in USDC.e tokens after compromising ownership of a contract linked to its WEMIX$ stablecoin and issuing tokens without authorization.
The abnormal transactions occurred on Sunday at 9:17 UTC, according to a preliminary incident update from WEMIX. The attacker issued about 5.23 million WEMIX$, which was converted into 30,736 WEMIX and 724,198.27 USDC.e. The USDC.e was then bridged to Ethereum and BNB Smart Chain before being exchanged for assets including Ether and Tether’s USDT and distributed across multiple addresses.
WEMIX said some of the funds were deposited into centralized exchanges. The company identified the attacker’s wallets and requested asset freezes and assistance from exchanges and stablecoin issuers, adding that some exchanges had already frozen addresses linked to the incident.
The company temporarily suspended all bridges connected to its layer-1 network, WEMIX3.0, including Chainlink CCIP and the PLAY Bridge. It also suspended trading in affected liquidity pools, withdrew foundation-provided liquidity, and paused services including the WEMIX$ Module and PNIX decentralized exchange.
WEMIX said the cause and full impact remain under investigation and warned that the preliminary figures could change.
Cointelegraph contacted WEMIX for additional information but did not receive an immediate response.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Israeli Prime Minister: This visit to the US aims to understand the US President’s views on the Iran issue.
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WEMIX is back in uncomfortable territory. The South Korean blockchain gaming platform is investigating a potential security breach involving the ownership of its WEMIX$ stablecoin contract, raising fresh questions about the security posture of an ecosystem that was already working to rebuild trust after a damaging incident earlier this year.
The investigation was disclosed on July 26, 2026. No confirmed details about the scope or impact of the breach have emerged yet.
What is WEMIX$ and why does it matter WEMIX$ is a stablecoin that runs on the WEMIX3.0 mainnet, fully collateralized by USDC. It keeps transactions stable and predictable for players and protocol users who don’t want exposure to the volatility of WEMIX itself.
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Wemade had already announced plans to transition away from WEMIX$ on WEMIX PLAY toward USDC.e, suggesting the stablecoin was already on a sunset track.
A platform still recovering from its last breach In February 2025, attackers drained approximately 8.65 million WEMIX tokens from the Play Bridge Vault, a haul worth roughly $6.1 to $6.2 million at the time. The breach was traced back to compromised authentication keys connected to the NILE NFT monitoring system.
WEMIX CEO Kim Seok-hwan had to publicly address allegations that the company attempted to downplay or cover up the incident.
The February 2025 hack was attributed to compromised authentication keys, not a smart contract vulnerability. If the current WEMIX$ incident turns out to involve contract ownership, that represents a different attack surface entirely.
Recent momentum, suddenly complicated On July 1, WEMIX completed its second halving event. On July 8, WEMIX was listed for spot trading on Kraken. Around the same time, the platform announced integration of Chainlink’s Cross-Chain Interoperability Protocol, or CCIP, designed to improve token transfers across different blockchains.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Elon Musk Trades Barbs With The Economist Editor in Exclusive Interview: 'Many People Hate You' – 'Even More Don't Like You'
The video of Elon Musk’s exclusive interview with *The Economist* was released on July 23. In the video, *The Economist* editor Beddoes accused Musk of being out of touch, misusing his influence to spread false panic and far-right rhetoric about Europe. “You described to me those astonishing, civilization-altering events of extraordinary transformative significance that will unfold over the next decade. Yet you remain a constant participant in the worst cesspool of tribalism that is social media,” Beddoes said. In response to Beddoes’ sharp criticism, Musk replied: “My partner, Shivon Zilis, a senior executive at Neuralink, is half-Indian. I have four children with her, one of whom is named after a famous Indian physicist. So I don’t think I’m a racist. And if you look at the employees in my companies, you’ll find our executives are from all races. I don’t believe there is any racial discrimination there.” During the interview, Musk told Beddoes outright that the absurd labeling of “far-right” by media outlets like *The Economist* is false and misleading. Beddoes countered that Musk had claimed “a civil war in the UK is only a matter of time,” but that was not the case: “The UK’s domestic security is better than that of any city in the US.” Finally, Beddoes bluntly criticized Musk: “You are out of touch, and many people dislike you.” To that, Musk said: “I don’t care. I have 250 million followers, and I believe far more people like me than dislike me. Moreover, I think far more people dislike you and the media than you imagine.”
4 minutes ago
Iran says it has made progress in talks with Oman on shipping management in the Strait of Hormuz.
According to Iran's Mehr News Agency reported on the 26th, Iranian Foreign Ministry spokesman Bahaei said that Iran recently held deputy foreign minister-level talks with Oman on the management of safe shipping in the Strait of Hormuz. The talks were "fruitful and yielded some progress." He added that the Omani delegation left Tehran on the 25th, but technical and political consultations between the two sides will continue. Bahaei also noted that there has been no change in the current navigation situation in the Strait of Hormuz. (Xinhua)
4 minutes ago
Tensions between the US and Iran have eased, resulting in a significant pullback in prices of the two major crude oils on trade.xyz, as traditional markets remain closed.
According to multiple sources over the weekend, fresh signs of easing tensions have emerged between the U.S. and Iran. U.S. President Donald Trump suspended military operations targeting Iran, while Iran has correspondingly halted retaliatory strikes. Affected by this news, the two benchmark crude oils on trade.xyz have fallen sharply, with Brent crude oil trading at $87.473, a 4.83% drop in 24 hours. As it is the weekend, trading of the two benchmark crude oils on traditional markets is closed, leaving Brent crude oil still at Friday’s level of $93.16.
4 minutes ago
Elon Musk details AI evolution timeline: The intelligence gap between AI and humans will be as vast as that between humans and chimpanzees within 10 years.
Elon Musk reaffirmed and detailed his timeline: In roughly 5 years, AI’s general intelligence could surpass the sum of human intelligence; in about 10 years, humans will likely no longer be the dominant force, with an intelligence gap far exceeding that between chimpanzees and humans, he analogized. He stated that AI could outperform humans in nearly every aspect, save for the inherent trait of being human itself. Musk believes the most probable outcome of AI development is an "era of staggering abundance", where robots and AI produce far more goods and services than humanity can consume, allowing anyone to have whatever they desire. By around 2036, "money may no longer matter". He argued that governments could issue direct cash transfers to citizens (similar to a universal basic income), as surging output would likely lead to deflation rather than inflation; traditional tax and redistribution logic may become obsolete under this new paradigm. He acknowledged a 10–20% risk that AI could lead to human extinction, but noted the development momentum is unstoppable, reaching a "philosophical conclusion": if you can’t stop it, join it and "enjoy the journey".
4 minutes ago
Iranian President: U.S. attacks on Iran’s civilian infrastructure are 'clear war crimes'
Local time on the 26th, Iranian President Masoud Pezeshkian held a meeting with the head of Iran’s Ministry of Roads and Urban Development, during which he was briefed on damage to transportation infrastructure including border crossings, ports, highways and railway networks. Pezeshkian called U.S. attacks on these Iranian civilian infrastructures "clear war crimes" and emphasized that those responsible for the acts should be held legally accountable through relevant international organizations and institutions. (CCTV News)
4 minutes ago
Iranian Army Spokesperson says the United States is in a desperate situation.
According to Iranian media reports today (July 26), Iranian Army spokesperson Akraminia stated that Iran has not observed any specific next-step strategy from the U.S. at present, but it can be assessed that the U.S. is already in a desperate position. Akraminia noted that the U.S. has three possible options: withdrawing from the conflict, launching large-scale airstrikes under pressure from Israel, or carrying out ground operations. Iran will monitor the U.S.'s subsequent actions and has prepared for all eventualities. He also added that the current war’s geographic scope has expanded to the Strait of Mandeb, and Iran’s operations cover U.S. targets spanning from Jordan to countries along the Persian Gulf coast. (CCTV International News)
Kraken’s WEMIX listing is not just another token notice for traders who follow gaming assets. It gives the project a larger regulated venue at a time when Web3 gaming tokens are trying to prove they still have a real market beyond hype cycles.
The useful way to read this is not as a guaranteed price signal, but as a fresh piece of information in a market that is trying to sort real developments from noise. For WEMIX, the broader issue is whether gaming-linked crypto assets can regain sustained attention. The last cycle produced plenty of gaming promises but uneven delivery. Listings on major exchanges help, but they do not replace the need for actual users and durable game economies.
For more details, visit the official Kraken platform.
TL;DR Kraken opened WEMIX spot trading.The listing gives the gaming-linked token more access to professional exchange liquidity.It adds another regulated venue for a token tied to Web3 gaming infrastructure. Why the venue matters A Kraken listing can change the liquidity profile of a token because it brings access to a more professional trading audience. That does not guarantee price strength, but it can increase visibility, improve execution options, and make the asset easier for desks to track.
For WEMIX, the broader issue is whether gaming-linked crypto assets can regain sustained attention. The last cycle produced plenty of gaming promises but uneven delivery. Listings on major exchanges help, but they do not replace the need for actual users and durable game economies.
The Market Read Specify available Kraken channels from the source if AG can verify during upload.
That is the balance readers need to keep in mind. Crypto markets are quick to turn every update into a single-direction trade, but most durable stories are more layered than that. They matter because they change positioning, incentives, infrastructure, or regulation over time.
What Comes Into Focus Now From here, the important thing is follow-through. If the source data, company update, filing, or on-chain record continues to move in the same direction, this can become part of a larger trend. If it stalls, it is still useful as a snapshot of where attention is sitting today.
For traders and readers, the cleaner takeaway is to separate the confirmed development from the speculation around it. The confirmed part is what deserves coverage. The speculation is what needs caution.
For Kraken readers specifically, the story is useful because it gives a clearer frame for the next few sessions. It tells them what to watch, which part of the market is reacting, and where the first obvious risk sits. That is more valuable than simply saying a token, company, or regulator has made a move. The useful work is in connecting the update to liquidity, positioning, adoption, enforcement, or user behaviour without pretending that any single headline controls the whole market.
The practical question now is whether this remains an isolated update or becomes part of a chain of follow-through. A second filing, another wallet move, fresh dashboard data, a new governance vote, or a stronger market reaction can all turn a clean single-day story into a broader narrative. Without that follow-through, it still matters, but more as a marker of where attention was concentrated on July 8 than as a complete trend on its own.
That distinction is especially important in a market where headlines can travel faster than context. A source-backed update gives readers something firmer to work with, but it does not remove liquidity risk, execution risk, or the chance that traders fade the initial reaction once the first wave of attention passes.
In that sense, the headline is only the starting point. The better read is to watch how builders, exchanges, funds, wallets, regulators, or large holders respond after the first announcement has moved through the feed.
This report is based on information from blog.kraken.com.
This article was written by the News Desk and edited by Samuel Rae.
Kraken’s WEMIX listing is not just another token notice for traders who follow gaming assets. It gives the project a larger regulated venue at a time when Web3 gaming tokens are trying to prove they still have a real market beyond hype cycles.
The useful way to read this is not as a guaranteed price signal, but as a fresh piece of information in a market that is trying to sort real developments from noise. For WEMIX, the broader issue is whether gaming-linked crypto assets can regain sustained attention. The last cycle produced plenty of gaming promises but uneven delivery. Listings on major exchanges help, but they do not replace the need for actual users and durable game economies.
For more details, visit the official Kraken platform.
TL;DR Kraken opened WEMIX spot trading.The listing gives the gaming-linked token more access to professional exchange liquidity.It adds another regulated venue for a token tied to Web3 gaming infrastructure. Why the venue matters A Kraken listing can change the liquidity profile of a token because it brings access to a more professional trading audience. That does not guarantee price strength, but it can increase visibility, improve execution options, and make the asset easier for desks to track.
For WEMIX, the broader issue is whether gaming-linked crypto assets can regain sustained attention. The last cycle produced plenty of gaming promises but uneven delivery. Listings on major exchanges help, but they do not replace the need for actual users and durable game economies.
The Market Read Specify available Kraken channels from the source if AG can verify during upload.
That is the balance readers need to keep in mind. Crypto markets are quick to turn every update into a single-direction trade, but most durable stories are more layered than that. They matter because they change positioning, incentives, infrastructure, or regulation over time.
What Comes Into Focus Now From here, the important thing is follow-through. If the source data, company update, filing, or on-chain record continues to move in the same direction, this can become part of a larger trend. If it stalls, it is still useful as a snapshot of where attention is sitting today.
For traders and readers, the cleaner takeaway is to separate the confirmed development from the speculation around it. The confirmed part is what deserves coverage. The speculation is what needs caution.
For Kraken readers specifically, the story is useful because it gives a clearer frame for the next few sessions. It tells them what to watch, which part of the market is reacting, and where the first obvious risk sits. That is more valuable than simply saying a token, company, or regulator has made a move. The useful work is in connecting the update to liquidity, positioning, adoption, enforcement, or user behaviour without pretending that any single headline controls the whole market.
The practical question now is whether this remains an isolated update or becomes part of a chain of follow-through. A second filing, another wallet move, fresh dashboard data, a new governance vote, or a stronger market reaction can all turn a clean single-day story into a broader narrative. Without that follow-through, it still matters, but more as a marker of where attention was concentrated on July 8 than as a complete trend on its own.
That distinction is especially important in a market where headlines can travel faster than context. A source-backed update gives readers something firmer to work with, but it does not remove liquidity risk, execution risk, or the chance that traders fade the initial reaction once the first wave of attention passes.
In that sense, the headline is only the starting point. The better read is to watch how builders, exchanges, funds, wallets, regulators, or large holders respond after the first announcement has moved through the feed.
This report is based on information from blog.kraken.com.
This article was written by the News Desk and edited by Samuel Rae.
Wemade has been hit with a multimillion-dollar lawsuit from its own ranks. The dispute, centered around the distribution of the company’s cryptocurrency WEMIX. The case highlights the complex intersections of traditional business practices and emerging blockchain technologies.
Wemade Faces $12M Lawsuit Wemade is facing a substantial lawsuit from a group of current and former executives and employees. The company announced on August 9 that 28 individuals filed a lawsuit on July 29 at the Seoul Central District Court, seeking damages of $11.85 million (16.18 billion won).
The plaintiffs, primarily former employees of Wemade Tree, a subsidiary that was merged into Wemade in February 2022, allege that the company failed to deliver on promises to pay them in WEMIX cryptocurrency.
The subsidiary was stablished in 2018, and it was key in the parent companies foray into blockchain technology. The subsidiary spearheaded the issuance of WEMIX tokens and their subsequent listing on cryptocurrency exchanges in 2020. In response to the lawsuit, they stated that they plan to respond according to legal procedures through our litigation attorney.” The company appears prepared to defend its position in court.
This legal challenge comes at a time when the cryptocurrency and blockchain sectors are facing increased scrutiny and regulatory challenges globally. The outcome of this case could have significant implications for how companies in the blockchain space manage employee compensation and token distribution.
Regulatory Challenges and Recent Indictment This lawsuit emerges amid increasing global scrutiny of the cryptocurrency and blockchain sectors. Adding to Wemade’s legal troubles, South Korean prosecutors recently indicted the previous CEO Chang Hyun-guk. The charges against Chang, announced on August 5, allege that he fabricated and concealed information about Wemix token circulation, potentially misleading investors.
This indictment follows Chang’s February 2022 commitment to cease token sales and provide transparency on circulation data, highlighting the ongoing regulatory challenges faced by companies in the blockchain space.
Kroma is proud to unveil ZKcandy has entered into definitive agreements to become our newest strategic investor and partner. This partnership will mark an exciting new phase for Kroma as ZKcandy will assume the role of major shareholder, currently held by WEMIX Pte., after closing takes place.
ZKcandy is a unique collaboration between iCandy Interactive, Southeast Asia’s largest game developer, and ZKsync, a leading Layer 2 (L2) Ethereum scaling solution. iCandy boasts over 650 full-time employees and has developed more than 300 mobile games, with over 400 million downloads worldwide. ZKcandy, operating a Layer 2 gaming zkChain, has already shown tremendous early success, registering over 2.5 million wallets within two weeks of its open testnet launch. ZKcandy is set to launch its mainnet by the end of 2024, with over 20 games already in the pipeline.
This strategic partnership demonstrates ZKcandy’s confidence in Lightscale’s innovative L2 blockchain solution, Kroma, and strengthens their commitment to accelerating Kroma’s future growth and success.
Kroma, built on the Superchain, is advancing the OP Stack, improving the security and efficiency of blockchain transactions. By integrating Native Account Abstraction, Kroma reduces gas fees and simplifies the user experience for both developers and end-users. Kroma is also the first OP Stack rollup featuring a ZK fault-proof system powered by the Tachyon library, which accelerates ZK proof generation while reducing costs, offering unmatched scalability without compromising security.
“We look forward to welcoming ZKcandy as a strategic partner and investor,” said Taekyu Park, Founder of Kroma. “Their involvement will represent a pivotal moment for Lightscale, one that will drive Kroma’s growth and help solidify its leadership in the Layer 2 blockchain space.”
With ZKcandy’s backing, as well as continued support from partners like SK Planet, Xangle, and Hexlant, Kroma is well-positioned to expand its influence across gaming, DeFi, and NFT sectors, driving the future of secure and scalable decentralized applications.
About Kroma: As Asia’s leading Layer 2 solution built on the Superchain, Kroma is the first OP Stack rollup with an active fault proof system utilizing zkEVM.
Kroma will transition to a universal ZK Rollup once the generation of ZK proofs becomes more cost-efficient and faster — using its original modular ZK backend library, Tachyon.
Kroma plans to push for gamified web3 experience backed by its strengths in gaming, consumer applications, Asia market, and technical capabilities for true universal web3 adoption.
Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.
A Professional HR with a huge interest in blockchain technology and cryptocurrency. Through her content writing skills, she became a passionate contributor to the crypto space. Being an active crypto enthusiast she is investing her time and experience into the digital sphere.
Wemix Foundation CEO addressed the late announcement of Feb. 28 security breach and announced full services resumption on Mar. 21.
In a press conference held on Mar. 17, Wemix Foundation (WEMIX) CEO Kim Seok-hwan addressed the delayed announcement of the recent security breach and announced full services resumption on 21 March, as initially reported by Business Korea.
The incident in question occurred on Feb. 28 and involved a security breach of the Wemix Foundation’s “Play Bridge Vault” crypto wallet, which transfers WEMIX to other blockchains.
Around 8.6 million WEMIX tokens were withdrawn, worth around $6.04 million (8.75 billion won). Following the hack, the affected server was shut down immediately, and the company reported it to the Cyber Investigation Team of the Seoul National Police Agency.
Although the incident was noted on Feb. 28, Wemix Foundation didn’t report it until Mar. 4, sparking public backlash. In the press conference today, Wemix Foundation CEO Kim Seok-hwan addressed the late announcement, explaining that it had been delayed due to concerns about additional attacks and to avoid panic selling.
This is not the first time Wemix Foundation was criticized for issues with information disclosure. In October 2022, Digital Asset Exchange Joint Consultative Body has warned investors to exercise caution with WEMIX due issues with disclosing WEMIX circulation volume.
That being said, delaying the announcement appears justified, as the CEO explained that without identifying the infiltration method, the platform risked further attacks.
In addition to addressing the delayed announcement, Seok-hwan said that Wemix Foundation is investigating the cause of the infiltration and relocating all blockchain-related infrastructure. Complete service resumption is slated for Mar. 21.
In addition to these efforts, Wemix Foundation introduced a series of buyback initiatives to stabilize the market. On Mar. 13, they announced a 10 billion won buyback, followed by an additional acquisition of 20 million WEMIX.
Meanwhile, the WEMIX token has risen from the close of $0.45 on Mar. 4 (when the company disclosed the hack) to $0.57 at the time of writing, according to CoinGecko. However, it remains down 3% on the daily timeframe.
WEMIX Team recently announced their plan to establish a Peg Stability Module (PSM) that provides users with stable 1:1 WEMIX$/USDC exchange capabilities. The developed action plan works to stabilize WEMIX$ values while offering users a stable exchange experience. The implementation timeline starts in the first half of 2025 indicates the WEMIX Team’s attempt to generate system stability and control price volatility affecting users.
WEMIX$ Action Plan : 1:1 Exchange to USDC Coming Soon 🔄
The #WEMIX Team is initiating a Peg Stability Module (PSM) to enable 1:1 exchanges of WEMIX$ to USDC.
This means less volatility and a more stable exchange process is to be made.
The team is working towards… pic.twitter.com/8zI7Yr8W1J
— WEMIX (@WemixNetwork) March 28, 2025 The WEMIX Team’s main course of action focuses on providing users with a secure and continuous WEMIX$ to USDC exchange. Within WEMIX$ platform users can convert WEMIX$ tokens to USDC tokens of equivalent value independently of current market prices through the PSM system. The safety net feature exists for holders to turn their WEMIX$ tokens into USDC without market value changes or price slippage risks during the exchange process
The WEMIX$ holders receive additional stability from the 1:1 exchange ratio decision that protects them from market price fluctuations. Through the PSM users will gain stable and predictable rates because the exchange rate remains fixed.
The WEMIX Team aims to facilitate USDC transfers to Ethereum before supplying them to PSM through the CCIP interface. The WEMIX$ holders can perform this 1:1 exchange with USDC irrespective of WEMIX$ price fluctuations in the market.
The PSM operates as a system which enables one-way conversions from WEMIX$ into USDC. WEMIX$ holders maintain certainty to transform their tokens into USDC through exchanges at constant exchange rates between WEMIX$ and USDC. Users need to understand that the exchange process will require a fee although exact fee details regarding policy will be disclosed at a later date.
Ensuring Stability and Future Expectations WEMIX Team has declared stabilization of WEMIX$ token and reduction of major price movements as their foundational objective. The WEMIX$ token stability improves through its binding exchange ratio to USDC digital currency which stands as a stable and trusted digital asset for protection against market price fluctuations.
All PSM-received USDC will function exclusively for the exchange purpose and remains unavailable for liquidity pool activities. The funds dedicated to token stability and exchange processes remain focused since they cannot be diverted to any other activity.
The WEMIX Team focuses on close WEMIX$ stability monitoring and executes necessary measures to optimize its performance. The implementation team continues advancing plans for sustainable integration methods of stablecoins in WEMIX ecosystem development.
The WEMIX Team actively prepares essential infrastructure for the first half of 2025 to deliver the PSM and 1:1 exchange mechanism deployment. The community will receive specified details about system operation following the complete development of all parts before they are announced.
Market players should exercise caution because the forthcoming declaration about this plan will potentially generate major WEMIX$ price fluctuations in the immediate future. Users need to monitor slippage and price impact effects since these short-term factors could temporarily impact WEMIX$ pricing before the new operational system starts.
Through its Peg Stability Module WEMIX Team implements an action plan which aims to provide users with stable WEMIX$ to USDC exchanges thus achieving token stability and volatility reduction and transaction certainty improvements. The WEMIX$ stability improvements at which the team works demonstrate their commitment to support the enduring success of the WEMIX ecosystem.
AUTHOR
Kester is an experienced freelance content writer. His focus is primarily on blockchain technology and cryptocurrency. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media. In addition to being a skilled content writer, Mushumir is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Mushumir enjoys traveling, reading, and playing cricket when he is not writing. He now works as a news and article writer for BlockchainReporter.
Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
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Last updated:
May 2, 2025
WEMIX, the native cryptocurrency of South Korean gaming firm Wemade, saw its price plunge over 60% following a devastating announcement from the Digital Asset eXchange Alliance (DAXA) that it will be delisted from all major domestic exchanges by June 2.
한국의 주요 5개 거래소가 6월 2일부터 WEMIX 거래를 중단할 예정이며, 이로 인해 토큰은 60% 이상 급락하여 $0.2757에 이르렀다가 약 $0.36으로 반등했습니다. 이는 WEMIX의 두 번째 집단 상장 폐지입니다. DAXA 거래소 동맹은 상장 기준 미달을 이유로 들었습니다. 一 링크 한국의 주요 5개…
— WuBlockchain News Korean (@WuBlockchainKR) May 2, 2025 The decision marks the second time WEMIX has faced delisting within South Korea’s notoriously cautious crypto environment.
The delisting follows a February cyberattack in which more than 8.65 million WEMIX coins, valued at around 9 billion won (approximately $6.2 million), were illicitly withdrawn from Wemade’s Play Bridge Vault, a critical component of its Web3 infrastructure.
DAXA deemed the breach inadequately explained, and the WEMIX Foundation failed to satisfy key transparency, disclosure, and user compensation compliance standards.
DAXA, which comprises five major Korean crypto exchanges: Upbit, Bithumb, Coinone, Korbit, and Gopax, announced that all trading support for WEMIX will cease at 3:00 PM KST on June 2. Withdrawal functionality will remain available until July 2.
The move was particularly consequential because Korea remains WEMIX’s most significant liquidity and trading volume market.
Source: CryptonewsWEMIX’s price collapsed nearly 60% on the news, falling from 1,200 won ($0.85) to just over 400 won within hours. Shares of Wemade were similarly affected, tumbling 17.45% in a single day to close at 23,650 won.
Delisting Decision Deepens Regulatory and Security Woes, Affects WEMIX PriceDAXA’s rationale for the delisting was firmly rooted in its description of Wemade’s ongoing failure to meet the standards necessary for maintaining trading support.
“Despite the foundation’s explanatory data, the cause of the security breach and investor compensation plans remain unclear,” DAXA stated.
The alliance conducted multiple reviews in March and April following the February hack, during which WEMIX had already been placed on a warning list.
Ultimately, however, the regulators determined that neither the incident nor the risks to investors had been sufficiently addressed.
Wemade’s response was to propose a token buyback initiative to absorb circulating WEMIX and burn (incinerate) the tokens to restore market trust.
WEMIX Buyback Execution
To swiftly recover from the impact of the WEMIX PLAY Bridge incident and restore the stability of the service and ecosystem, the #buyback execution begins today.🔄
The buyback method and the exchanges where the buyback was conducted will be disclosed… pic.twitter.com/KU6XCWYz8U
— WEMIX (@WemixNetwork) March 14, 2025 While this plan was made public, DAXA was unconvinced of its effectiveness or sincerity.
The February hack, which affected the Play Bridge Vault used for cross-chain token transfers, highlighted vulnerabilities in Wemade’s infrastructure.
Despite immediate disclosures by the company, DAXA flagged a lack of timely and transparent communication.
The security lapse was particularly troubling because WEMIX underpins multiple blockchain-based games and DeFi applications within Wemade’s ecosystem.
This is not the first time the company has had to weather such storms. In 2022, WEMIX was initially delisted from Korean exchanges, only to be reinstated the following year.
That prior delisting was also due to concerns over token supply disclosures.
A Strategic Setback With Global ImplicationsThe delisting’s domestic impact cannot be overstated. With Korean exchanges responsible for most of WEMIX’s trading volume, losing liquidity and investor access in its home market is critical.
Even though WEMIX remains tradable on certain overseas platforms like Bitget and Bybit, trading volumes on those exchanges are minuscule compared to South Korea’s concentrated crypto ecosystem.
Moreover, re-listing on domestic exchanges is now barred for at least a year under current regulatory guidelines.
Wemade has vowed to continue expanding its blockchain initiatives globally, hinting at new exchange listings outside of Korea to mitigate the impact of the delisting.
Statement for the WEMIX Community
In response to DAXA’s recent decision to end support for #WEMIX transactions,
we sincerely apologize to our community.
We remain firmly committed to the integrity, growth, and global future of WEMIX.
📢 Official announcement here :… pic.twitter.com/K28EWf94jU
— WEMIX (@WemixNetwork) May 2, 2025 However, without robust domestic support and still recovering from reputational damage, those efforts face uphill challenges.
With its ecosystem’s key token removed from its strongest market, the company will have to navigate technical or regulatory challenges and a fundamental crisis of trust among investors and users alike.
The future of Wemade’s blockchain ambitions may now hinge on how it restores faith after its second major delisting.
WEMIX Faces June 2 Delisting After Court Ruling – Can the Gaming Token Bounce Back?
Hassan Shittu
Journalist
Hassan Shittu
Part of the Team Since
Jun 2023
About Author
Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
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Last updated:
May 30, 2025
South Korean gaming firm Wemade is preparing for a new chapter after a Seoul court rejected its bid to stop the delisting of its cryptocurrency, WEMIX, from major domestic exchanges.
On May 30, the Seoul Central District Court dismissed Wemade’s injunction request to block the termination of WEMIX trading support. The decision clears the way for the full delisting of the token from local exchanges by June 2.
WEMIX to Be Delisted by June 2 After Seoul Court Rejects Wemade AppealThe ruling comes months after the Digital Asset eXchange Alliance (DAXA), a consortium of five major Korean exchanges—Upbit, Bithumb, Coinone, Korbit, and Gopax—announced that WEMIX would be removed following a February security breach.
The hack saw over 8.65 million WEMIX, worth around 9 billion won ($6.2 million), illicitly withdrawn from the company’s Play Bridge Vault, a key part of its Web3 infrastructure.
DAXA said Wemade failed to meet transparency and user protection standards after the incident. The foundation’s explanations and compensation plans were deemed insufficient.
“Despite the foundation’s explanatory data, the cause of the security breach and investor compensation plans remain unclear,” DAXA stated in its decision.
The exchanges flagged the project for review in March and April. By May, the group moved forward with a delisting plan, ending all trading support by June 2 at 3:00 p.m. KST. Withdrawal services for WEMIX holders will continue until July 2.
Wemade challenged the move in court on May 9, calling the decision unfair and filing for an injunction. However, with the court ruling against the firm, the delisting will proceed as planned.
WEMIX Apologizes to Users, Commits to Security Upgrades and Ecosystem StabilityIn a public statement following the court’s decision on May 30, the WEMIX team expressed regret but promised to move forward.
“The WEMIX team is very sorry about the result of this injunction application, but we respect the court’s decision,” the statement read.
The company acknowledged the damage caused by the Play Bridge Vault hack and the resulting fallout. It also apologized to its users and community, promising to improve security and maintain operations across its blockchain gaming ecosystem.
“We have implemented measures to strengthen security and prevent recurrence,” the team said. “We have actively responded to resume services and stabilize the ecosystem.”
WEMIX serves as the core currency across Wemade’s blockchain-based gaming and DeFi platforms. The loss of local exchange listings poses a major challenge for the firm, though it has faced similar hurdles before.
WEMIX Delisting Deals Major Blow to Korean Trading, Re-Listing Blocked for One YearIn 2022, WEMIX was also delisted over token supply disclosure concerns, only to regain listings the following year.
Now, the team has indicated its determination to overcome the setback once again.
“No external factors can undermine the will of the WEMIX team to sustain and grow the WEMIX ecosystem,” the company said. “We will proceed with the planned business without a hitch and provide real value through games and services based on WEMIX.”
While details remain limited, the company said it would soon release short- and long-term plans to address the delisting and stabilize the ecosystem.
Despite recent setbacks, the WEMIX team appears committed to rebuilding.
With trading ending in just days and withdrawals closing in July, the next few weeks will be decisive for Wemade as it attempts to retain user trust and chart a path forward in global markets.
The impact of this delisting on WEMIX in South Korea is huge. Korean exchanges handled most of WEMIX’s trading volume, so losing access to local liquidity and investors is a major blow.
While WEMIX is still available on overseas platforms like Bitget and Bybit, those exchanges see very little trading compared to South Korea’s tightly concentrated crypto market.
To make matters worse, current regulations mean WEMIX can’t be re-listed on Korean exchanges for at least a year.
On June 1st, 2025, WEMIX hit rock bottom at $0.195 — its lowest price in a year. But just a few days later, by June 5th, it had already bounced back to $0.454 before dipping slightly again.
So, what caused that sharp drop in the first place? And where could WEMIX be headed next — later this year and even five years down the line? Instead of guessing, let’s take a closer look at our WEMIX price prediction.
What is WEMIX? WEMIX is a blockchain platform designed to bring gaming and crypto together in a way that actually makes sense. It’s built for players who want more than just fun — here, you can truly own your in-game items, earn tokens while playing, and move assets between different games without losing control.
The WEMIX (WEMIX) token powers everything in the ecosystem: you can use it to buy items, stake it to earn rewards, vote on platform decisions, or tap into DeFi tools like swaps and lending. The tech behind it is fast and cheap to use, which means smooth gameplay and quick transactions — no waiting around or wasting money on gas fees.
On top of that, WEMIX includes a growing lineup of blockchain games, an NFT marketplace, a crypto wallet, and tools for developers to build more.
What is the WEMIX crypto price prediction, and is WEMIX a good investment?
WEMIX coin price prediction: general outlook As of June 23, 2025, WEMIX is trading at $0.425. Over the past month, the token has gained around 10.5%, with a 2.5% rise in the last week alone. However, it dipped slightly by 0.2% in the past 24 hours.
Despite the recent recovery, WEMIX is still down more than 98% from its all-time high of $24.68, reached back in November 2021.
WEMIX 1-day chart, June 2025 | Source: crypto.news The sharp drop to $0.195 in early June 2025 was largely triggered by a major setback: five of South Korea’s leading crypto exchanges — Upbit, Bithumb, Coinone, Korbit, and Gopax — jointly announced the delisting of WEMIX. Coordinated by the Digital Asset Exchange Association (DAXA), this decision took effect on June 2, giving users until early July to withdraw their holdings.
Going forward, the token’s performance will depend on key factors like the growth of its GameFi and NFT ecosystem, the impact of deflationary tokenomics, ongoing regulatory pressure, recovery from a $6M hack in March, and how well the team maintains community engagement and trust.
What’s on the horizon for the WEMIX token? Let’s look at the WEMIX price prediction for 2025 and beyond.
According to CoinCodex’s WEMIX price prediction, the token could see a modest bump of about 4.5%, possibly hitting around $0.43 by mid-July 2025. They also say WEMIX might swing anywhere between $0.41 and $2.79 throughout the year — so expect some ups and downs.
As of June 20, the vibe around the WEMIX price forecast is pretty mixed: 17 technical indicators are leaning bullish, while 12 are on the bearish side.
DigitalCoinPrice is a bit more optimistic, thinking WEMIX might even briefly beat its old high of $24.68 sometime in 2025 before settling down between $0.85 and $0.91.
Wallet Investor thinks WEMIX could reach as high as $4.10 by the end of the year.
Will WEMIX go up or down in five years?
WEMIX price prediction 2030 According to Wallet Investor’s expectations, WEMIX’s price could drop significantly, potentially reaching as low as $0.0373 by June 2030.
DigitalCoinPrice’s projections for WEMIX are more positive, suggesting the token could trade between $1.98 and $2.29 by the end of the decade.
CoinCodex’s WEMIX price prediction for 2030 estimates a range between $0.50 and $1.87.
Should you invest in WEMIX? Honestly, WEMIX is a bit of a rollercoaster. It’s bounced back from some serious lows, but it’s still miles away from its all-time high — and getting delisted from major South Korean exchanges definitely shook confidence.
Some predictions see it climbing again, while others warn it could drop even further in the long run. If you’re thinking about investing, make sure you’re okay with big ups and downs — and don’t put in more than you can afford to lose.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
[PRESS RELEASE – Singapore, Singapore, July 2nd, 2025]
WEMADE and Redlab Games are excited to announce the start of global pre-registration for <ROM: Golden Age>, the anticipated Web3 MMORPG, now available on the WEMIX PLAY platform and the official website.
<ROM: Golden Age> is the latest title from Redlab Games, creators of the acclaimed <ROM: Remember of Majesty>. This new game combines their signature RPG experience with cutting-edge blockchain technology and will officially launch this August in over 170 countries (excluding select regions such as Korea).
During the global showcase, the team introduced “RPG Tokenomics 3.0”—a next-generation Play-to-Earn (P2E) system that seamlessly links two unique tokens for a dynamic and rewarding player experience. The showcase also revealed key features and the game’s upcoming roadmap.
How to Join and What to Expect
Where to Register: Pre-registration is now open on the official WEMIX PLAY website and the official <ROM:Golden Age> game website. Pre-Registration Rewards: All players who pre-register will receive special in-game items, including Gold Random Boxes and Top-grade Monster Slates. Extra Benefits for WEMIX PLAY Members: Users who pre-register through WEMIX PLAY will receive a ticket to join the “Invite a Friend” event. For every friend invited who completes pre-registration, the users get additional raffle entries. Exciting Events and Rewards
Weekly Raffles: Every week until August 7th, players can win PLAY Tokens (usable on WEMIX PLAY), CROM Tokens (the game’s native currency), and other prizes. Additional raffle tickets are awarded for each friend who completes the sign-up process through an invitation, increasing the chances of selection with every successful referral. Milestone Rewards: As the total number of pre-registrations increases, everyone unlocks milestone rewards like ROM Buff Boxes and Enhancement Scroll Selection Boxes. Check-In Event: After pre-registering, log in to the official website to collect Pre-registration Coins. These coins can be used to craft a variety of rare items, such as ImperionGuaranteed Slates and Lucky Enhancement Scroll Boxes. Mission Event: Completing special missions can earn an additional 200 Pre-registration Coins, offering more opportunities to engage ahead of the launch. Developer Q&A: Upcoming Live AMA Events
The <ROM: Golden Age> development team will host three live AMA (Ask Me Anything) sessions during the pre-registration period. These sessions will offer participants an opportunity to:
Learn about the game’s unique tokenomics and how the Dual-token P2E system works Discover gameplay features and future plans Chat directly with the creators and get their questions answered Pre-Registration Now Open for <ROM: Golden Age>
<ROM: Golden Age> enters the pre-registration phase, marking a step forward in interactive, player-driven experiences. The campaign features early access rewards, community engagement events, and insights into the game’s tokenized ecosystem.
Further details are available on:
● WEMIX PLAY Pre-registration Page
● <ROM: Golden Age> Official Website
● <ROM: Golden Age> Official Discord channel
About WEMADE
WEMADE is a South Korea-based technology and gaming company with 25 years of experience in digital innovation. Best known for The Legend of Mir IP, WEMADE has expanded its vision through the WEMIX platform, which powers a global ecosystem of Web3 games, NFTs, DeFi, and token-based services.
The company is committed to building sustainable digital economies where developers, players, and partners can grow together in a secure and open environment.
PANews reported on August 1st that according to Coingecko data, six of the top 300 cryptocurrencies by market capitalization have seen monthly gains exceeding 100% over the past 30 days. The specific gains are as follows:
Zora (ZORA) rose 746.5% and is currently trading at $0.0698; Rekt (REKT) rose 208.3% and is currently trading at $0.0000008631; Conflux (CFX) rose 183.9% and is currently trading at $0.2114; Pudgy Penguins (PENGU) rose 134.4% and is currently trading at $0.03333; Ethena (ENA) rose 125.5% and is currently trading at $0.5862; Story (IP) It rose 102.7% and is now priced at $5.88. WEMIX (WEMIX) rose 94.6% and is now priced at $0.773. Convex Finance (CVX) rose 85.1% and is now priced at $4.14. Qubic (QUBIC) rose 82.1% and is now priced at $0.000002518. Bonk (BONK) rose 79.6% and is now priced at $0.00002554.
Author: PA一线
This content is for market information only and is not investment advice.
PANews reported on August 22nd that according to Korean media reports, the Seoul Central District Court has partially ruled in favor of Wemade in a damages lawsuit filed by former and current employees, ordering Wemade to pay approximately 9.939 billion won in compensation. The lawsuit was filed by 27 former and current employees in July of last year, seeking 16.176 billion won in damages, alleging that the company failed to fulfill its promise to pay employees the virtual currency WEMIX.
Wemade established a blockchain subsidiary, Wemade Tree, in 2018 and merged it with the company in 2022. Currently, the relevant functions are undertaken by the WEMIX Foundation.
PANews reported on May 20th that, according to SoSoValue data, the entire crypto market sector experienced a pullback. The RWA sector, which performed strongly yesterday, led the decline with a 3.13% drop in the last 24 hours. Within the sector, Centrifuge (CFG) fell 8.40%, while Ondo Finance (ONDO) and Pendle (PENDLE) fell 3.02% and 6.08% respectively. The GameFi sector fell 2.59%, with WEMIX bucking the trend and rising 2.01%.
In other sectors, the Meme sector fell 0.73% in the last 24 hours, but Banana For Scale (BANANA) surged 17.23% and Siren (SIREN) rose 8.27%; the Layer 1 sector fell 0.87%, while Algorand (ALGO) rose 7.52%; the CeFi sector fell 1.03%, with NEXO (NEXO) remaining relatively strong, rising 1.61% intraday; the DeFi sector fell 1.49%, with Morpho Token (MORPHO) rising 3.34%; the Layer 2 sector fell 1.80%, with Arbitrum (ARB) falling 2.74%; and the PayFi sector fell 2.41%, but Telcoin (TEL) rose 4.66%.
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Political tokens led by meme coins linked to Donald Trump plunged more than 8% after last night’s presidential debate with the odds of Kamala Harris becoming the next president gaining on betting platforms including Polymarket.
Trumpie (TRUMPIE), Doland Tremp (TREMP) and MAGA Pepe (MAPE) were the biggest losers in the political meme coin sector over the past 24 hours. TRUMPIE plummeted over 47%, while both TREMP and MAPE shed more than 25%.
Betting Odds Shift In Favor Of Kamala Harris As Donald Trump Struggles Harris and Trump faced off in their first debate in Philadelphia yesterday evening. Topics covered in the debate ranged from the economy to foreign policy to abortion. Following the debate, BetOnline odds that had initially favored Trump had flipped to Harris.
Odds in favor of the former US president winning the election in November dropped 3% on the decentralized betting platform Polymarket. Meanwhile, Harris’s odds rose by the same amount over the past 24 hours. Bettors on the platform now see a 49% chance of either candidate taking the White House this year.
World's largest prediction market.
Before the debate After the debate pic.twitter.com/p1KjOOFZU1
— i/o (@eyeslasho) September 11, 2024
Before the debate, Trump had an 8% lead on the platform. His odds prior to yesterday’s face off stood at 53%, compared to Harris’s 45%.
Crypto Not Mentioned Once In First Harris-Trump Presidential Debate Despite Trump’s pro-crypto stance, the industry was not mentioned once during the debate. The former US President appeared to be agitated during the face off with data from the fact-checking agency PolitiFact showing he made several false claims.
Trump had earlier vowed to end President Joe Biden’s war on crypto if elected. He also said on Sept. 5 that he plans to wipe out anti-crypto regulation and make the US the “world capital of crypto.”
Bernstein analysts told clients in a Sept. 9 note that Trump winning could ignite a BTC rally to $90K by the end of the year, while a Harris win could see the king of cryptos plummet to $30K.
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Attorneys for former Alameda Research CEO Caroline Ellison asked that she be spared a prison sentence for her role in the FTX collapse, citing her “extraordinary cooperation” in testifying against FTX founder Sam Bankman-Fried.
In a Sept. 10 court filing, they noted that the Probabtion Department had recommended three years of supervised release instead, and highlighted Ellison’s key role in securing Bankman-Fried’s conviction.
She faces up to 110 years in prison but is likely to receive a lighter sentence due to her assistance.
Bankman-Fried Instructed Ellison To Compile False Balance Sheets Ellison provided the most damning testimony during Bankman-Friend’s trial, which subsequently led to his 25-year prison sentence.
Ellison described how Bankman-Fried instructed her to compile misleading balance sheets for investors. She also revealed how the FTX founder pursued risky investments knowing full well that it would lead to a draw down for investors.
Ellison “poses no risk of recidivism and presents no threat to public safety,” Ellison’s attorneys said in the filing. Her “early disclosure of the crimes, her unmitigated acceptance of responsibility for them,“ as well as the three days she testified as a government witness against Bankman-Fried were listed in the filing as reasons for the court to grant her leniency.
Caroline Ellison's lawyers want to redact parts of her sentencing submission because she "has been the focus of intense media scrutiny and Internet fascination" pic.twitter.com/d2d8Ip98oS
— Jacob Shamsian ⚖️ (@JayShams) September 10, 2024
Diary entries and statements showing Ellison’s cooperation with FTX’s bankruptcy estate were also a part of her sentencing submission, along with letters from former colleagues, friends and family.
Caroline Ellison Faces Up To 110 Years In Prison Ellison pleaded guilty to seven counts of wire fraud, money laundering, commodities fraud and securities fraud in commingling of FTX and Alameda Research funds.
If given the maximum allowable sentence, Ellison could be sentenced to 110 years in prison, although legal experts say her cooperation and testimony make this unlikely.
Ellison is scheduled to appear in court for her sentencing on Sept. 24.
Former FTX engineering director Nishad Singh and the exchange’s co-founder Gary Wang will have their sentencing hearings on Oct. 30 and Nov. 20, respectively. Wang and Singh also pleaded guilty.
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