Thailand SEC Investigates Potential Losses of Zipmex Users

The SEC urged affected Zipmex investors to submit the information that will then be “forwarded to the relevant agencies.”
Thailand SEC Investigates Potential Losses of Zipmex Users

The Singapore-based crypto exchange Zipmex which froze withdrawals due to financial difficulties caused by exposure to Babel Finance and Celsius, is on the SEC’s radar. The Thailand financial regulator is investigating potential investor losses.

The Thai Securities and Exchange Commission (SEC) has urged affected investors to submit information through an online forum on the regulator’s website. 

Its purpose is to collect all necessary information from investors about how they have been affected by issues on the crypto platform Zipmex, which will then be “forwarded to the relevant agencies.”

The crypto exchange was ordered to begin trading in accordance with SEC-approved rules, including the ability for customers to deposit and withdraw digital assets.

Zipmex, on the other hand, announced the possibility of an acquisition stating “conversations with various interested parties have progressed significantly” after facing a potential loss of around $53 million in funds lent to Babel Finance and Celsius.

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