Henry Chang's acquittal on WEMIX manipulation charges finalized

Henry Chang, the former CEO of Wemade, has been formally acquitted of charges related to manipulating the circulating supply of WEMIX after South Korean prosecutors declined to appeal the verdict, News1 reported. According to legal sources on Dec. 5, prosecutors did not file an appeal by the Dec. 4 deadline. With the defendant, who is now the CEO of Nexus, also not appealing, the second-instance court's not-guilty verdict is now final. Chang was indicted in August 2023 on allegations that he had profited by falsely announcing in early 2022 that he would stop liquidating WEMIX coins. The prosecution argued this was done to induce buying and support the prices of both Wemade's stock and the WEMIX token.