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Home / Markets / Cryptocurrency /  Troubled crypto exchange Zipmex says it’s mulling possible offer

Troubled crypto exchange Zipmex says it’s mulling possible offer

FILE PHOTO: Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration. REUTERS/Dado Ruvic/IllustrationPremium
FILE PHOTO: Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration. REUTERS/Dado Ruvic/Illustration

  • Asian cryptocurrency exchange Zipmex, which is among several in the digital-assets industry encountering financial difficulties in recent weeks, said it was considering a possible offer after talks with interested parties and due diligence should commence
  • It had halted withdrawals as the fallout from a series of defaults spread further throughout the industry

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Zipmex, a cryptocurrency exchange that operates in markets like Singapore and Thailand, said on Sunday it was considering a possible offer after talks with interested parties and due diligence should commence.

The Asian platform was among several in the digital-assets industry encountering financial difficulties in recent weeks. On Thursday, it had halted withdrawals as the fallout from a series of defaults spread further throughout the industry.

On Friday, Zipmex tweeted it would resume allowing withdrawals but only from Trade wallet and not from any other wallet “until further notice."

The platform is the latest to encounter financial difficulties stemming from dealings with troubled crypto leaders Babel Finance and Celsius Network Ltd. Zipmex has $48 million of exposure to Babel and $5 million with Celsius, it said on its Facebook page on Thursday. 

This story has been published from a wire agency feed without modifications to the text.

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