After nearly a year of legal proceedings, a South Korean court acquitted former Wemade CEO Jang Hyun-guk of market manipulation charges.
A South Korean court acquitted Jang Hyun-guk, the former CEO of blockchain gaming firm Wemade, of manipulating the WEMIX crypto token’s circulation.
On Tuesday, local news outlet News1 reported that the Seoul Southern District Court ruled Jang did not intend to influence crypto market prices using deceptive means.
This ruling cleared him of violating the country’s capital market laws, marking a significant legal win for Jang, who now works at blockchain gaming company Nexus.
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