TechFlame, on July 15, according to Cointelegraph, South Korea's Seoul Southern District Court has ruled that Jang Hyun-guk, the former CEO of blockchain gaming company Warmed, was acquitted in the WEMIX token circulation manipulation case. The court held that Jang had no intention of influencing the cryptocurrency market price through deception, and therefore did

not violate the Korean Capital Market Act.

The prosecution has charged Jang with falsely announcing the suspension of WEMIX token liquidation to stabilize prices and boost investor confidence, as well as secretly selling more than $200 million worth of WEMIX tokens between February and October 2022.