Thailand's Zipmex faces deadline to resume withdrawals

Investors chase crypto exchange for deposits and answers

A Google form for investors affected by Zipmex's withdrawal freeze has reached nearly 800 complaints -- with a claimed 600 million baht lost in total. © Reuters

FRANCESCA REGALADO, Nikkei staff writer

July 27, 2022 11:53 JST

BANGKOK -- Thailand's second biggest crypto exchange faces a deadline on Thursday to resume baht withdrawals and regular trading on its platform, a week after it suspended these activities citing market volatility and a lack of liquidity.

The Thai Securities and Exchange Commission gave Zipmex three days to comply with the order, which was issued on Monday. A lawyer for the company met investors and the government's cybercrime investigators earlier in the day.