Foresight News reported that according to Yonhap News Agency, Wemix, the blockchain subsidiary of Wemade, acknowledged in an emergency meeting that it lost about 8.65 million WEMIX tokens (about $6.22 million) due to a hacking attack. The hackers attacked the Play Bridge Vault system by stealing the authentication keys of the NFT platform Nile on February 28. Sihwan Kim explained that the delay in notification was due to concerns about triggering more attacks and market panic, emphasizing that "there was absolutely no intention or attempt to cover up the incident".

Wemix has filed a complaint with the police and launched a 100 billion won buyback program to protect investors. The company plans to fully restore services on March 21 and will improve its crisis response protocols, including an investor communication mechanism. Currently, the Korea Digital Asset Exchange Association has designated WEMIX as a trading warning item and suspended deposits.