Zipmex Has $48M Exposure to Babel Finance, to Resume Withdrawals from Trade Wallet

Southeast Asia-based crypto exchange released a statement, saying that it has a $48 million exposure to Babel Finance and $5 million to Celsius. The exchange is in talks with Babel to resolve the situation. In addition, Zipmex said that it is exploring all available channels including fundraising, legal action, and restructuring. Zipmex Thailand has re-enabled deposits and withdrawals on its trade wallet, and will resume trades soon, while exchanges in other regions will only resume withdrawals.
Source

Exchanges

Related News
Non-KYC exchange eXch to close down under money laundering scrutiny tied to Lazarus Group Non-KYC exchange eXch to close down under money laundering scrutiny tied to Lazarus Group
MEXC Extends DEX+ Platform to Binance Smart Chain Users MEXC Extends DEX+ Platform to Binance Smart Chain Users
MEXC Partners With Hacken to Increase Security Standards MEXC Partners With Hacken to Increase Security Standards
BitMEX hit with additional $100 million fine over Bank Secrecy Act violations: report BitMEX hit with additional $100 million fine over Bank Secrecy Act violations: report
Backpack acquires FTX EU, Bitcoin and Ethereum ETFs clock over $1 billion worth of inflows and more Backpack acquires FTX EU, Bitcoin and Ethereum ETFs clock over $1 billion worth of inflows and more
Latest News More More
19 Hours Ago Citigroup predicts stablecoin supply could hit $3.7 trillion by 2030
20 Hours Ago Ark Invest raises 2030 bull-case bitcoin price projection to $2.4 million on 'aggressive' modeling
1 Day Ago Zora airdrop triggers confusion as token launches without announcement, requires users claim manually
2 Days Ago pot bitcoin ETFs see $936 million inflows as 'safe haven' narrative strengthens
2 Days Ago Binance South Africa to require information on senders and recipients for local compliance
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open