Crypto Exchange ZipmexX Resumes Withdrawals for Trade Wallet

Zipmex Asia’s most popular digital asset exchange said in announcement Friday’s announcement by Trade Wallet Thailand stated that withdrawals were being resumed in Thailand. It also indicated that withdrawals will be resumed in other countries within a short time.

The exchange banned users from withdrawing two days ago cryptocurrencies On the ground that assets might be taken by the financial crisis facing Celsius Network, and cryptocurrency lender Babel Finance.

However, the company said It will continue to prohibit transactions via Z wallets, as well as deposits and transfers.

Z Wallet offers all Zipmex products and services, including bonuses, new digital assets and access to exclusive products.

Zipmex was founded in 2018 by Marcus Lim, Akalarp Yimwilai. Its headquarters are in Singapore and Thailand. The exchange’s user base has reached 200,000 with a total trading volume of over $1 billion.

The company’s native ZMT token has fallen more than 90% from its all-time high.

The company disclosed that it loaned $48 million Babel Finance and $5 Million Celsius. Celsius filed for bankruptcy protection.

Zipmex has issued the following official statement: “Ever since the black swan events surrounding the crypto space Zipmex has retrieved the majority of our funds and assets that were historically deposited with our deployment partners and have been actively working to resolve the situation for the remaining outstanding assets. There were no materially adverse impacts to our operations.”

The company is actively working with both companies in order to resolve the liquidity crisis.

Source: Shutterstock



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