Alpha Asset Management, led by CEO Choi Joon-hyuk, is experiencing significant financial losses due to its investment in blockchain gaming company Wemade. The firm holds Wemade shares valued at 35 billion won, purchased at prices of 34,894 won and 63,887 won per share in late 2023 and early 2024. With the current share price at 25,000 won, Alpha Asset's estimated loss stands at 15.8 billion won ($12 million). The decline in Wemade's stock is partly attributed to the delisting of its virtual currency, Wemix, by the Korean Exchange Alliance DAXA following a security incident. This has dashed hopes for a stock price rebound. Additionally, Wemade reported an operating loss of 11.3 billion won in Q1, exacerbated by weak blockchain business performance and high marketing costs for its game, Legend of Ymir. An emergency briefing is scheduled for 6:30 p.m. to address these issues, with participation from Wemix Foundation's Jin Xihuan.