Crypto alternate Zipmex, which operates in Thailand, Indonesia, Singapore and Australia, launched a press release this week denying experiences that it has filed for chapter and saying its progress in resuming withdrawals from its Z Wallets.

Zipmex clients can withdraw Solana (SOL) from their wallets Tuesday and can be capable of withdraw XRP on Thursday and Cardano (ADA) on August 9, the corporate said.

Zipmex offers its clients with two wallets: the Z Pockets, used for Zipmex companies and receipt of earnings and bonuses, and the Commerce Pockets, the place fiat foreign money and funds for buying and selling are held. Zipmex paused all withdrawals from its platformon July 20 however resumed withdrawals from Commerce Wallets two days later. The corporate cited its publicity to Babel Finance and Celsius defaults as necessitating the pockets freeze. Babel Finance owed Zipmex $48 million and Celsius owed it $5 million.

Information for Zipmex SOL holders

Solana (SOL) in your Z Pockets has been credited to Commerce Pockets on 2 August 2022.

For additional enquiries, attain out to Buyer Assist on Stay Chat – we’re prepared to assist 24/7 pic.twitter.com/jCLSAppVtK

— ZIPMEX (@zipmex) August 2, 2022

Now altcoins in Z Wallets might be transferred to Commerce Wallets, leaving solely Bitcoin (BTC), Ether (ETH) and stablecoins frozen in Z Wallets. Zipmex promised clients that it will “begin to launch a few of these tokens [BTC, ETH and stablecoins] into your Commerce Pockets beginning in the course of August.”

Thai SEC launches digital hotline for Zipmex customers

Zipmex additionally took the chance to make clear its latest authorized actions, informing the general public that itfiled an software for a moratorium on debt in Singapore. As a part of that course of, Zipmex collectors will be capable of file paperwork with the courtroom via Aug. 5, with Zipmex Singapore submitting its paperwork every week later so the courtroom can start deliberating on the moratorium on Aug. 15.

Zipmex added that it was working with Babel Finance on the return of Zipmex’s funds. It had additionally signed a “Memorandum Of Settlement (MOU) with two traders” and obtained a further funding from a present shareholder. Its largest investor isSingaporean and U.S. enterprise capital agency B Capital, adopted by the U.S. Soar Capital and Hong Kong’s Mindworks Ventures.