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Cryptocurrencies

Assets of Zipmex Thailand's users locked until restructuring deal

Singapore court grants crypto company 3-month reprieve to find solution

Zipmex halted operations, citing market volatility and liquidity problems faced by its Singapore unit, affecting many retail investors in Thailand.   © Reuters

SINGAPORE -- Thai users of a service run by the Singapore parent of cryptocurrency platform Zipmex face further uncertainty until a deal is reached to restructure the embattled digital assets company.

A court hearing held in Singapore on Monday revealed that frozen assets of Thai users on the troubled platform held in its Z Wallet and ZipUp+ products will remain locked until Zipmex reforms its business.

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