WEMIX Dollar
WEMIX$
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
WEMIX$ (WEMIX Dollar) is the dollar-pegged stablecoin for the WEMIX3.0 gaming ecosystem by Wemade. The token exhibits critical vulnerabilities and terminal distress across multiple evaluation pillars. Most notably, on July 26, 2026, the token suffered a major exploit: 'On July 26, 2026 at 6:17 p.m., the owner authority of the WEMIX$ smart contract was compromised, allowing an attacker to illicitly mint 5.22 million WEMIX$ and transfer USDC.e out of the system (The Elec, WEMIX official notice).' This access-control exploit on its DIOS and AMA stabilization contracts resulted from an unpatched re-initialization proxy flaw dating back to November 2022. Furthermore, the ecosystem is actively executing a 'WEMIX$ termination plan' and transitioning to USDC.e. With negligible trading volume, minimal liquidity, lack of verifiable independent reserve attestations, and official phase-out plans, the token poses severe structural and financial risks.
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 Dollar (WEMIX$)
WEMIX$ (WEMIX Dollar) is a USD-pegged stablecoin that is being phased out under an official termination plan in favor of transitioning to USDC.e within the WEMIX3.0 ecosystem. Developed under the supervision of South Korean gaming company Wemade Co., Ltd. (WEMIX PTE. LTD.), the token was designed as the native stablecoin for gaming transactions and in-ecosystem payments on the WEMIX3.0 mainnet, backed by 100% USDC collateral with an elastic supply mechanism.
While the underlying WEMIX3.0 network utilizes a documented on-chain DAO model with 40 Node Council Partners, governance over WEMIX$ issuance and reserve management has operated on a centralized basis. Market metrics for the token reflect severe distress, characterized by negligible trading volumes, minimal liquidity, and an absence of independent, third-party reserve attestations or active token-specific development.
On July 26, 2026, the smart contract owner authority for WEMIX$ was compromised due to an unaddressed re-initialization proxy flaw introduced in November 2022. The attacker exploited the DIOS and AMA stabilization contracts to illicitly mint 5.22 million WEMIX$ and drain collateral funds (with reported losses citing approximately ₩7.7 billion minted and roughly $724,000 stolen). This followed a broader history of ecosystem incidents, including a February 2025 bridge exploit that resulted in the loss of approximately 65 million WEMIX coins, past delistings of the ecosystem token from South Korean exchanges over circulating supply disclosures, a brief WEMIX3.0 block-production halt on July 24, 2026, and a catastrophic price depeg toward $0.01.