Crypto Exchange Zipmex Starts Releasing BTC & ETH for Users

Ethereum will be released on August 11 while Bitcoin on August 16.

The Southeast Asia-focused crypto exchange Zipmex will release Ethereum (ETH) and Bitcoin (BTC) tokens this week, according to a spokesperson.

With this, Zipmex will allow 60% of its users to retrieve their digital assets after a suspension of withdrawals from its Z Wallet product.

Zipmex is planning to release a specific amount of ETH and BTC on 11 and 16 August respectively. We’re working hard to release the balance of Z Wallet holdings ASAP.

Thank you for your ongoing patience and support.

Zipmex Team
#Zipmex pic.twitter.com/moywJffXau
— ZIPMEX (@zipmex) August 8, 2022

The company mentioned that Ethereum will be released on August 11 while Bitcoin on August 16. Last week Zipmex also allowed digital coins ADA, XRP, and SOL to be withdrawn. Reportedly, Zipmex late last month was in talks with investors for potential funding.

Zipmex also operates in Thailand, Australia, and Indonesia. In July, it stopped allowing withdrawals from Z Wallet which it said had $53 million worth of cryptocurrencies exposed to Babel Finance and Celsius.

Moreover, the Thai Securities Exchange Commission is gathering more information on concerned customers and interacting with customer representatives on the issue.

Read Also: Cryptocurrency Exchange Zipmex Suspends Trading in Thailand to Comply with Regulations

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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