The Thai Securities and Exchange Commission has filed a police complaint against the cryptocurrency exchange Zipmex

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Last Updated on September 11, 2022 by Bitfinsider

The SEC is collecting transactional information from Zipmex after the exchange halted withdrawals in July, according to an official release.


Zipmex and Akalarp failed to meet a deadline for delivering the information, prompting the SEC to take action, according to the regulator.


The Singapore-based exchange was one of several cryptocurrency companies that suffered from an industry-wide downturn caused by bad debts and high leverages. Zipmex loaned Babel Finance $48 million and Celsius Network $5 million, both of which failed to repay their loans. Zipmex was granted creditor protection by Singapore’s High Court last month until December 2.

“Zipmex is currently compiling relevant documents that belong to both Zipmex and Zipmex Pte. Ltd., an entity that is not subject to the regulatory jurisdiction of the Thai SEC,” a Zipmex spokesperson stated in an official response shared with CoinDesk. Zipmex Pte. Ltd. Ltd. is the Singapore entity of the company.


“However, any disclosure of Zipmex Pte Ltd’s information must be done with the utmost care and consideration to ensure that regulations are fully complied with and standards such as data privacy are duly observed; customers can rest assured that the company is addressing this matter with your best interests in mind.”


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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