According to Yonhap News, Wemade Vice Chairman Jang Hyun-guk has denied all charges in his first trial related to the alleged manipulation of WEMIX. Jang's lawyer argued that the suspension of liquidity did not affect the price of WEMIX, and even if it did, there is no causal relationship between the effect on WEMIX's price and the manipulation of Wemade's stock price. As a result, it does not constitute fraudulent insider trading or price manipulation as defined by the Capital Markets Act. The trial is ongoing, and the court has yet to reach a verdict.