Beginning on August 11, Zipmex, the lender that had stopped enabling customer withdrawals on July 20, would permit users to access and withdraw up to 0.08 Ethereum (ETH) tokens, which are currently worth about $153 at the time of writing, as reported by Cryptoslate.
Additionally, the company will transfer the ETH tokens from customers’ Z wallets, which were used for the primary trading and withdrawals and for earning interest and bonuses. Following that, users could withdraw Ethereum coins to personal wallets.
The company will move the customers’ ETH tokens from their Z wallets, which are used to accrue interest and bonuses, to their Trade wallets, which are used for trading and cashing out. Following that, the users will be able to withdraw Ethereum tokens to their personal wallets, Cryptoslate noted.
All customers who have less than 0.08 ETH in their Z wallets will receive a full distribution of their assets in the trade wallets. However, people who own more than 0.08 ETH will need to wait for further information.
According to the official announcement, the company will also allow users to withdraw 0.0045 Bitcoins (BTC), which are valued at roughly $111 at the time of writing, starting on August 16. The tokens will also be moved in the same manner from Z wallets to Trade wallets.
“We remain committed to complete transfers of all customers’ assets in a gradual manner and to accelerating all actions to resume the full service of Z wallet,” Zipmex said in a statement.
The company further added that it remained committed to building the ZMT tokens, which received additional investment. The company is trying to resume the functioning of its Z wallet.
The Securities and Exchange Commission (SEC), Thailand’s cryptocurrency and securities watchdog, requested more explanations from Zipmex after it unexpectedly stopped accepting withdrawals last month. Zipmex is incorporated in Thailand and has operations throughout Southeast Asia.
(With insights from Cryptoslate)
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