Thailand’s Securities and Exchange Commission is investigating potential losses for investors after crypto exchange Zipmex’s temporary suspension on withdrawals, Channel News Asia reported.
The Thai SEC is calling for affected users of the crypto exchange to submit information on how they were affected by the withdrawal suspension via a public forum. A Zipmex representative said the company was following the SEC’s requests and actively communicating with government agencies.
Zipmex announced the temporary withdrawal suspension on July 20th, with the Twitter post stating the suspension was “until further notice.”
Withdrawal services resumed later that same day for Thai users, with users in Indonesia, Singapore, and Australia – Zipmex’s other key markets – seeing services resume in the following days.
However, transfers for one particular investment product continued to be suspended. Zipmex later revealed the product took a hit of US$53 million since crypto lenders Babel Finance and Celsius suspended withdrawals in June amid the so-called crypto winter.
See also: First Luna, now Celsius. What’s behind the latest crypto crisis?
Editing by Deepti Sri
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