Crypto exchange Zipmex, which are operating in Thailand, Indonesia, Singapore and Australia, released an announcement now denying reports it has declared personal bankruptcy and announcing its progress in resuming withdrawals from the Z Wallets.
Zipmex customers can withdraw Solana (SOL) using their wallets Tuesday and can withdraw XRP on Thursday and Cardano (ADA) on August 9, the organization stated.
Zipmex provides its customers with two wallets: the Z Wallet, employed for Zipmex services and receipt of earnings and bonuses, and also the Trade Wallet, where fiat currency and money for buying and selling are held. Zipmex stopped all withdrawals from the platform on This summer 20 but started again withdrawals from Trade Wallets 2 days later. The organization reported its contact with Babel Finance and Celsius defaults as necessitating the wallet freeze. Babel Finance owed Zipmex $48 million and Celsius owed it $5 million.
News for Zipmex SOL holders
Solana (SOL) inside your Z Wallet continues to be credited to Trade Wallet on 2 August 2022.
For more enquiries, achieve to Customer Care on Live Chat – we’re prepared to help 24/7 pic.twitter.com/jCLSAppVtK
— ZIPMEX (@zipmex) August 2, 2022
Now altcoins in Z Wallets is going to be used in Trade Wallets, departing only Bitcoin (BTC), Ether (ETH) and stablecoins frozen in Z Wallets. Zipmex guaranteed customers it would “start to produce a few of these tokens [BTC, ETH and stablecoins] to your Trade Wallet beginning in the center of August.”
Related: Thai SEC launches digital hotline for Zipmex users
Zipmex also required the chance to explain its recent legal actions, informing the general public that it filed a credit card applicatoin for any moratorium on debt in Singapore. Included in that process, Zipmex creditors can file documents to the court through August. 5, with Zipmex Singapore submitting its documents not much later therefore the court can start deliberating around the moratorium on August. 15.
Zipmex added it had become dealing with Babel Finance around the return of Zipmex’s funds. It’d also signed a “Memorandum Of Agreement (MOU) with two investors” and received yet another investment from the current shareholder. Its largest investor is Singaporean and U.S. investment capital firm B Capital, adopted through the U.S. Jump Capital and Hong Kong’s Mindworks Ventures.
