Back

Alpha Asset Management Faces Losses Amid WEMIX Delisting from Korean Exchanges

Alpha Asset Management's losses escalate to approximately 15.8 billion KRW as Wemade’s financial situation deteriorates, compounded by a court ruling against delisting bans.

WEMIX

Summary

Alpha Asset Management holds Wemade stocks valued at 25,000 KRW per share, facing losses of around 15.8 billion KRW due to the recent delisting of Wemade's virtual currency, Wemix. The Seoul Central District Court rejected Wemade's request to prevent the delisting from four exchanges, following a hacking incident that caused a loss of 9 billion KRW. Wemade's financial health is deteriorating, with an operating loss of 11.3 billion KRW reported in Q1 2025, attributed to poor blockchain performance and high marketing costs.

Terms & Concepts
  • WEMIX: A virtual currency associated with Wemade, often used in gaming and digital transactions.
  • KRW: The South Korean won, the official currency of South Korea.
  • Operating loss: A financial metric indicating the loss incurred from a company's core business operations, excluding non-operating income and expenses.