Zipmex pauses withdrawals “until further notice” – TechCrunch

Zipmex, a digital asset swap with operations in Singapore, Australia, Indonesia Thailand, said on TwitterIt is. “would be pausing withdrawals until further notice.”

The SingaporeCitation of a -based company “combination of circumstances beyond our control including volatile market conditions, and the resulting financial difficulties of our key business partners.”

DueDue to a combination circumstances beyond our control such as volatile market conditions and the resulting financial problems of our key business partner, we will be pausing to preserve the integrity our platform. withdrawals until further notice.

— ZIPMEX (@zipmex) July 20, 2022

ZipmexIt is not the only cryptocurrency exchange to have run into problems amid a global sellTake advantage of crypto markets to get discounts CryptoUnicorn Babel suspended withdrawals in June,While Celsius, one of crypto’s biggest lenders, filed for bankruptcy a week ago.

VauldAnother. SingaporeCrypto platform suspended based on cryptocurrencies withdrawalsTrades and deposits were affected by financial difficulties earlier in the month.

TechCrunchhe reached out to ZipmexThank you for your comment. We will update this story if they respond. Reuters reportsYou can watch it livestreamed Wednesday evening, Zipmex ThailandCEO Akalarp Yimwilai said its office’s difficulties were because of problems at Singapore-based Zipmex Global, whose Partners Babel Finance CelsiusThey were having liquidity problems.