Zipmex

Zipmex joins the list of crypto exchanges filing for bankruptcy protection; the firm froze all trading and withdrawal last week.

However, the company's trade wallet and the NFT platform have now resumed operations. Singapore-based cryptocurrency exchange Zipmex has become the latest victim of the crypto market crash, pausing all trading and withdrawals since July 20. This is not the first time that the TMC has been hit by a scandal.

Zipmex has become the latest victim of the ongoing crypto crash after running into liquidity problems that it blames on troubled crypto lenders Babel ...

Zipmex is owed a net amount of $48 million by Hong Kong-headquartered crypto lending firm Babel Finance, and another $5 million by Celsius Network, the lender that filed for bankruptcy in New York, as of July 21. It has already received interest from several potential investors, Zipmex added, including a memorandum of understanding signed with an undisclosed party that could inject what it described as “a large amount of fresh capital” into the exchange. The Singapore-based crypto exchange said on Wednesday that it had filed moratorium applications in the city-state for five business entities.

Southeast Asia-focused cryptocurrency exchange Zipmex said it had filed for bankruptcy protection in Singapore, becoming the latest victim of the global ...

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Cryptocurrency exchange Zipmex has filed for bankruptcy protection in Singapore despite resuming withdrawals after a brief suspension earlier this month.

Singapore's crypto sector was also impacted by the collapse of crypto fund Three Arrows Capital. Zipmex is the latest victim in a growing line of crypto firms experiencing issues after the sharp selloff in May 2022 that resulted in the collapse of Luna and TerraUSD. Zipmex, which operates in Singapore, Thailand, Indonesia and Australia, is also being investigated by Thailand's Securities and Exchange Commission and law enforcement for potential losses for the public after Zipmex temporarily suspended withdrawals.