Zipmex says it's exploring all options as it prepares to allow some withdrawals

Quick Take

  • Zipmex said it’s exploring all available options and plans to resume withdrawals from some wallets, a day after freezing client funds.
  • The crypto exchange said it plans to resume withdrawals and deposits for its Trade Wallets on Friday.

Zipmex said it's exploring all available options and plans to resume withdrawals from some wallets, a day after the Southeast Asian crypto exchange froze all client funds.

"Zipmex is exploring all available channels including fundraising, legal action, and restructuring," the exchange said in a Facebook post on Thursday. 

In a separate tweet, the company said it plans to resume withdrawals and deposits for its Trade Wallets at 11am GMT today — although it later delayed the process until Friday. Transfers from its Z Wallets to Trade Wallets won't be available and ZipUp accounts are also still suspended. 

"Zipmex has retrieved the majority of our funds and assets that were historically deposited with our deployment partners and have been actively working to resolve the situation for the remaining outstanding assets," the company said. "There were no materially adverse impacts to our operations."

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