Crypto Exchange Zipmex Seeks Bankruptcy Shelter

Zipmex is seeking bankruptcy protection in Singapore, the Thailand-based cryptocurrency exchange said Wednesday (July 27).

“This helps protect Zipmex against third-party actions, claims, and proceedings while it is active, and enables the team to focus all our efforts on resolving the liquidity situation, without having to worry about defending potential claims or adverse actions while we are doing so,” the company said in a message to its users.

Zipmex added that this does not mean the liquidation of the company, whose status has not changed since its last update. It plans to continue operating its trade wallet, NFT platform and other offerings, with no service interruptions planned.

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