# Dev Behind Xbox Showcase's 'Korean Splinter Cell' Goes Bankrupt

> **Open Intelligence Dossier** · First detected: 2026-06-24 00:07 UTC · Category: Technology

## Executive Summary
The developer behind the stealth action game MUDANG: Two Hearts has filed for bankruptcy, leading to the project's official cancellation.

## Intelligence Brief
EVR Studio, the developer behind the title MUDANG: Two Hearts, has officially declared bankruptcy. This development follows the game's high-profile appearance at a previous Xbox showcase, where it was introduced to the public.


Coverage from outlets including Kotaku, Push Square, and Yahoo Tech identifies the project as the same title previously highlighted as a 'Korean Splinter Cell.' Reports confirm that the bankruptcy proceedings have resulted in the cancellation of the game, which was previously slated for the PlayStation 5. Future updates remain pending as no further details have been provided regarding the status of the studio's other intellectual property or its corporate assets.


It is currently unclear if any development efforts will be salvaged by other entities.

## Multi-Source Evidence Table
| Source Outlet | Headline | Verification URL |
|---|---|---|
| TwistedVoxel | Mudang: Two Hearts Developer EVR Studio Has Gone Bankrupt | [Source Link](https://news.google.com/rss/articles/CBMifkFVX3lxTE5icERkSjNEcTd0RVZqVUdKazZCUEJsSEFJc2k3Z01uS3FBSGh0WFk3MmliU3pvRmNVZlBVdGJtenVKcE04YjBMOF9XUk1lWHg1SW9YM3pqRmlhS1Y2ak5SS3h1cUtGYWRjU29tU2NHNkRqTVR1TE5KZ1dPY1kyZw?oc=5) |
| Push Square | Remember Korean Stealth Game MUDANG? Looks Like It's Not Coming Out | [Source Link](https://news.google.com/rss/articles/CBMiqAFBVV95cUxQRk9hZEcyYUdGd2NrRGZWRGZSSV9xc0pPU05OWmxscEdmSDRiRFdMRnkyVXFsMWZ2QWFqX3FPSTN6M1dBd2NRT2szcjBOU2FKTE1LZlhMRFpFOHEtYTFDaGxjcVFTalNXZ2NBVWhGM0x2QXFwdjVScS1YdlhYcnl4VlFHRXVLSjFyd1ZrNzhfOWtNTU1NcUprTlQxakt2c01nY3V5MXRqTzU?oc=5) |
| PlayFront | MUDANG: Two Hearts officially cancelled – studio is bankrupt | [Source Link](https://news.google.com/rss/articles/CBMihwFBVV95cUxQSzB0dzBmNG13QTh4Sk1ZekJNMG1VLXBnaXdnOUhhd1lubm5aX0hKVG5fdXF0ZnlhX1h4Y2R0Rm1PR1hUVnM5ZFVZRlNZLUVLNDhHWjlhSGEwT1JHT2VLaDM5RHB0UHZ4eVVyU2JEZ21HR2dTbDN4Y3VpSzZxeTd5Z21mX0d3VjQ?oc=5) |
| Yahoo Tech | Promising PS5 Action Game Announced a Year Ago Is Canceled – Report | [Source Link](https://news.google.com/rss/articles/CBMikwFBVV95cUxNbmpOWkN6djF4c24tcG9mbTUyM2xvTF9FWVZNNGNpcXoxeTRWTTQwMjR4NloxLW9NZ3RBbTR0a3ZvWnQteXB5MmZiUFMtODVnb2pCZzQ1T3JycC1BcDhTNEFQb0puRGI4VTZGb2FKakp5WFBTcHdBZUFKVWUwcDVET2ZIbjV3QUJqZ2dXeERyLU9SUFk?oc=5) |
| Kotaku | Dev Behind Xbox Showcase's 'Korean Splinter Cell' Goes Bankrupt | [Source Link](https://news.google.com/rss/articles/CBMinAFBVV95cUxPSTU1U0t6dWdXXzItWExwckhvVmdMb2tNZFB6ejNjMk1QTnNiWFY0d3Fwam5jTW1XblZ2aFVINEx4Y2FCclhkYW5kNmVyN2t4WHVqc3pzTEU0bzFuM0lzSU1YYW1hd25STFdMaEZLTVhBTVZOLWV5SXJQNU5QMU1sN0dUVzhCb05TUk5UbE9fRERJTkpmdnJRZmlrbXY?oc=5) |

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*Canonical Source: https://pulse.byoviral.com/trend/2026-06-24/dev-behind-xbox-showcase-s-korean-splinter-cell-goes-bankrupt*