WEMIX
WEMIX
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
WEMIX exhibits a severely distressed profile across all operational, financial, and security dimensions. The project has suffered repeated security incidents within the last 24 months, notably a major key-compromise exploit in March 2025 resulting in ~$6.2 million in stolen tokens with delayed disclosure, and a subsequent July 2026 contract ownership compromise on its native stablecoin WEMIX$ leading to unauthorized minting and ecosystem disruption. These technical vulnerabilities compound historical governance and integrity failures, including the November 2022 hostile delistings by South Korea's DAXA alliance over circulating supply misrepresentation and the indictment of its former CEO. Despite restructuring efforts such as the July 2024 Brioche Hard Fork and token burns, WEMIX suffers from low liquidity, declining community traction, contraction of products like NILE, and an unrecovered price drawdown exceeding 98% from all-time highs. The weighted average across all six sections yields an overall score of 2.7.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About WEMIX (WEMIX)
WEMIX (WEMIX) is the native cryptocurrency of a dedicated layer-1 blockchain ecosystem developed by South Korean gaming company WeMade (WEMIX PTE. LTD.). Designed to support blockchain-based gaming, the network utilizes a 40-authority-node consensus model and powers gaming infrastructure such as the WEMIX PLAY platform and WEMIX Pay. The token serves as the core medium of exchange and utility asset across the ecosystem's gaming applications and on-chain governance frameworks.
The project's tokenomics have undergone substantial restructuring, notably through the Brioche Hard Fork on July 1, 2024. This update burned approximately 434.1 million Foundation-held tokens, discontinued the previous continuous burn mechanism, and implemented a block reward halving model alongside a 60-month linear vesting schedule through December 2027. Ecosystem operations have also faced contractions, including the termination of its NILE platform, migration maintenance updates, the archival of core repositories under an archive organization, and an ongoing wind-down of its native stablecoin, WEMIX$, in favor of USDC.e.
WEMIX has been subject to severe regulatory, governance, and security controversies. In November 2022, the Digital Asset Exchange Alliance (DAXA) in South Korea executed hostile exchange delistings of WEMIX due to fraudulent circulating supply disclosures, followed by further delisting actions after attempted relistings, as well as the indictment of former CEO Henry Chang for supply manipulation. Additionally, the ecosystem has experienced major security breaches: a March 2025 compromised key exploit resulting in approximately $6.2 million in stolen tokens with a four-day delayed disclosure, and a July 2026 contract ownership compromise on WEMIX$ that enabled unauthorized minting and the bridging of roughly $724,000 out of the network before bridge operations were halted. Amid low liquidity and ongoing operational headwinds, the token has suffered a prolonged price drawdown exceeding 98% from its all-time high.