{"id":65026,"date":"2022-07-28T16:55:42","date_gmt":"2022-07-28T13:55:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65026"},"modified":"2025-09-06T17:42:57","modified_gmt":"2025-09-06T14:42:57","slug":"zipmex-the-thai-cryptocurrency-exchange-seeks-court-protection-from-creditors","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/zipmex-the-thai-cryptocurrency-exchange-seeks-court-protection-from-creditors\/","title":{"rendered":"Zipmex, the Thai cryptocurrency exchange, seeks court protection from creditors"},"content":{"rendered":"<p>The Thai cryptocurrency exchange Zipmex<a href=\\\"https:\/\/zipmex.com\/moratorium-20220727\/\\\"> filed<\/a> for court protection from creditors in Singapore. The moratorium will automatically take effect for 30 days, under Singaporean law.<\/p>\n<p>On July 22, Morgan Lewis Stamford filed five related applications on behalf of several entities linked to the exchange.<\/p>\n<p>Top management intends to obtain an extension of the moratorium for up to six months to prevent creditor lawsuits. The same step was taken by <a href=\\\"https:\/\/forklog.news\/kriptolendingovaya-platforma-vauld-zadolzhala-402-mln-kreditoram\/\\\">the leadership of the crypto-lending platform Vauld<\/a> (debt stands at $402 million).<\/p>\n<p>The platform faced a liquidity crunch after problems at partners <a href=\\\"https:\/\/forklog.news\/babel-finance-priostanovil-vyplaty-i-vyvod-sredstv\/\\\">Babel Finance<\/a> and <a href=\\\"https:\/\/forklog.news\/celsius-podala-zayavlenie-o-bankrotstve\/\\\">Celsius Network<\/a>. Their obligations amount to $5 million and $48 million, respectively.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u201cThe moratoriums will give Zipmex Group a breathing space and the time needed to explore settlement options, including the return of funds from Babel Finance. It is also necessary to develop a restructuring plan and attract additional investments,\u201d<\/em> the company said.<\/p>\n<\/blockquote>\n<p>Representatives of the exchange said there is interest from unnamed parties in potential investments. They added that negotiations are at an \\&#8221;advanced stage\\&#8221;.<\/p>\n<p>The platform <a href=\\\"https:\/\/forklog.news\/bitkoin-birzha-zipmex-chastichno-vozobnovila-vyvod-sredstv\/\\\">partially resumed<\/a> deposits and withdrawals several days later.<\/p>\n<p>Earlier, Kaiko <a href=\"https:\/\/forklog.com\/en\/news\/kaiko-forecasts-a-difficult-period-for-crypto-exchanges\">allowed bankruptcy of some cryptocurrency exchanges<\/a> due to adverse market conditions, declining client activity and problems among several industry participants.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\\\"\/\/telegram.me\/forklog\\\"\u201d\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Thai cryptocurrency exchange Zipmex has filed for court protection from creditors in Singapore. The moratorium will automatically take effect for 30 days, under Singaporean law.<\/p>\n","protected":false},"author":1,"featured_media":65027,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1166,1355],"class_list":["post-65026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-centralized-exchanges-cex","tag-zipmex"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=65026"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65026\/revisions"}],"predecessor-version":[{"id":65028,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65026\/revisions\/65028"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/65027"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=65026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=65026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=65026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}