Zipmex, the lender that stopped customer withdrawals on July 20, To give permission Starting August 11th, you can access and withdraw up to 0.08 Ethereum (ETH) tokens, worth around $153 at the time of writing.
The company transfers ETH tokens from users’ Z wallets, which are used to earn interest and bonuses, to trade wallets, which are used for trading and withdrawals. The customer can then withdraw her Ethereum tokens to a private wallet.
All users with less than 0.08 ETH in their Z wallet will receive full assets in their trade wallet. However, if ETH is above 0.08, you should wait for further updates.
According to an official statement, the company will also allow users to withdraw 0.0045 Bitcoin (BTC), which is worth about $111 at the time of writing, starting August 16. Tokens are similarly transferred from the Z wallet to the trade wallet.
According to Zipmex, these transfers will allow most users to receive full assets in terms of five tokens: Bitcoin and Ethereum, Solana (SOL), Ripple (XRP) and Cardano (ADA). It was returned by a customer in the past week.
However, the lender added that the resurgence of these withdrawals is just a step towards its larger goal of returning all customer assets.
In that statement, Zipmex said:
“We remain committed to accelerating all actions to gradually complete the transfer of all customer assets and resume full Z Wallet service.”
The company added that it is still working on building a native ZMT token with additional investment from existing backers. Zipmex also said it is looking to resume Z Wallet functionality.
Thailand unfazed by crypto credit crisis
When Zipmex abruptly stopped withdrawals last month, Thailand’s cryptocurrency and securities watchdog, the Securities and Exchange Commission (SEC), asked Zipmex to provide further explanation. Zipmex operates throughout Southeast Asia and is registered with the SEC in Thailand.
The SEC has since launched a public inquiry to assess the impact of Zipmex’s withdrawal freeze. The lender then applied for a moratorium in Singapore to protect itself from lawsuits from creditors.
But despite the launch of an investigation into Zipmex, the SEC doesn’t seem to be worried as it approved four more crypto licenses last week. This includes crypto broker his Krungthai XSspring, exchange T-BOX Thailand, crypto advisors and fund managers Coindee and Leif Capital Asset Management.
