Jang Hyun-guk, the former CEO of Wemade, will stand trial for allegedly manipulating the distribution of the cryptocurrency 'Wemix' (WEMIX) and violating the Capital Market Act. The first trial will be held today at 10:20 a.m. in the Seoul Southern District Court. Jang and his co-defendants are accused of falsely claiming that they would suspend the liquidity (cashing out) of Wemix coins from January to February 2022. This allegedly tricked investors into buying Wemix coins and generating substantial profits from the difference in Wemade stock prices and the Wemix coin price. Listed on major exchanges like Bithumb, Coinone, and Upbit, Wemix faced scrutiny and was designated as a subject of attention in November 2022 due to a liquidity issue. It was eventually delisted in December of that year.