Troubled crypto exchange Zipmex says it’s mulling possible offer

Troubled crypto exchange Zipmex says it’s mulling possible offer

(Screenshot from https://trade.zipmex.com/th/wallets/main)
(Screenshot from https://trade.zipmex.com/th/wallets/main)

Zipmex, the stricken cryptocurrency exchange that operates in Thailand and other Southeast Asian markets, said on Sunday it was considering a possible offer after talks with interested parties and due diligence should commence.

The platform was among several in the digital-assets industry encountering financial difficulties in recent weeks. On Thursday, it had halted withdrawals as the fallout from a series of defaults spread further throughout the industry.

On Friday, Zipmex tweeted it would resume allowing withdrawals but only from Trade wallet and not from any other wallet “until further notice”.

The platform is the latest to encounter financial difficulties stemming from dealings with troubled crypto leaders Babel Finance and Celsius Network Ltd. Zipmex has $48 million of exposure to Babel and $5 million with Celsius, it said on its Facebook page on Thursday. 

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