WEMIX

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<ul class="wp-block-list news-points">
 <li>Seoul court orders GDAC to return 7.8M WEMIX tokens worth $7.31M to Wemade CEO Park Kwan-ho.</li>
 <li>GDAC faces a daily fine of 3 million won for non-compliance after 30 days.</li>
 <li>2022 GDAC hacker attack compromised their reserves, worsening the exchange’s downfall.</li>
</ul>
A South Korean court ruled in favor of Wemade CEO Park Kwan-ho, ordering the now-defunct GDAC crypto exchange to return 7.8 million WEMIX tokens, worth $7.31 million. This ruling is the latest development in the ongoing dispute between Park Kwan-ho and GDAC.
The decision is a follow-up to the earlier July verdict where the Seoul Central District Court granted Park a provisional disposition, highlighting GDAC’s failure to comply. Park could not access the tokens due to GDAC’s shutdown.
<h2 class="wp-block-heading" id="h-court-rejects-gdac-s-claims-against-wemade-ceo">Court Rejects GDAC’s Claims Against Wemade CEO</h2>
The court rejected GDAC’s latest challenge and ordered the trading platform to return the tokens within 30 days. If GDAC does not comply, it faces a daily penalty of $3 million after the deadline. The court also dismissed the exchange’s allegations of market manipulation and money laundering against Park, citing its failure to maintain a 100% reserve ratio, a key require…
The post <a href="https://coinedition.com/south-korean-court-orders-defunct-gdac-to-return-7-3m-in-wemix-to-wemade-ceo/" rel="noopener noreferrer nofollow">South Korean Court Orders Defunct GDAC to Return $7.3M in WEMIX to Wemade CEO</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

South Korean Court Orders Defunct GDAC to Return $7.3M in WEMIX to Wemade CEO

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