Skip to content

ZipMex is investigating all the ways to start withdrawals

Cryptocurrency exchange Zipmex, which has stopped withdrawals, stated that they are investigating all ways to get rid of it.

Southeast Asia-based cryptocurrency exchange Zipmex froze all customer funds and stopped with withdrawals. The crypto exchange in question reported that they are exploring all available options and are planning to allow withdrawals from some wallets.

Making a statement on Facebook, the stock market said, ” Zipmex; is exploring all available channels, including fundraising, legal action, and restructuring.” he used his statement.

The company stated that it plans to continue withdrawal and deposit transactions for “Trade Wallets” at 11:00 today. However, transfers from “Z wallets” to “Trade Wallets” will not be possible. ZipUp accounts are also still suspended.

“Zipmex has recovered most of our funds and assets invested in our distribution partners and is actively working to resolve the situation for any remaining outstanding assets. There was no material negative impact on our operations.” made the statement.

Singapore-based lending platform Vauld made the same decision. The firm reported that it was affected by the financial difficulties of some of its business partners and the market conditions.

Zipmex said it had exposure to Babel Finance ($48 million) and Celsius ($5 million).