Thai authorities launch investigation into the suspension of Zipmex crypto exchange, more than 2 million users affected

The Securities and Exchange Commission of Thailand (SEC) has launched an investigation into the reasons for the freezing of the withdrawal function for customers of the Zipmex cryptocurrency platform, as more than 2 million users could not receive their assets.

Local regulators are currently collecting information by communicating with affected users. The SEC also called on Zipmex customers to send their own complaints or any information they know about illegal actions and problems with the exchange to the SEC’s website. The platform is «going through hard times» after the bankruptcy of Babel Finance and Celsius Network. As of July 21, Zipmex’s claims against these platforms amounted to $ 48 million and $ 5 million. Representatives of the exchange also explained the drastic changes in the company’s operations by «unfavorable market conditions.»

We would like to remind you that some time after the withdrawal of funds was suspended, the crypto exchange partially resumed its work. However, Zipmex has not yet returned to normal operation.