[Alpha Biz=(Chicago) Reporter Paul Lee] The prosecution seized and searched Wemade headquarters, the issuer, in connection with the controversy over the distribution fraud of virtual currency Wemix.

The Financial Investigation Department 1 (Chae Hee-man, acting chief prosecutor) at the Seoul Southern District Prosecutors' Office sent prosecutors and investigators to Wemade headquarters in Bundang-gu, Gyeonggi Province, on the 30th to secure data on the issuance and distribution of Wemix.

About 20 investors of Wemix filed a complaint with the prosecution against Wemade CEO Jang Hyun-kook on the 11th of last month on charges of fraud and violating the Capital Markets Act, saying, "Wemade caused great damage by deceiving investors with intentional false information about the amount of distribution in the process of issuing and selling Wemix."

The prosecution seized and searched the virtual currency exchange Upbit, Bithumb, and Coinone on the 31st of last month and launched a forced investigation into the alleged distribution fraud of Wemix.

 

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