- The Thai SEC sent a letter to Zipmex seeking clarity on the amount of customer assets under management and details of how deposited funds were used in relation to ZipUp. a savings account program that offered up to 10% interest on deposits.
- On Wednesday, Zipmex froze withdrawals, citing "volatile market conditions" and financial difficulties of "key business partners."
- The regulator also asked whether Zipmex has used lending platforms Celsius Network and Babel Finance.
- Earlier on Thursday, Zipmex announced on Twitter that it would be restarting withdrawals for its Trade Wallets, although ZipUp accounts will remain disabled until further notice.
- Zipmex didn't immediately respond to a request for comment.
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