Thai SEC launches digital hotline for Zipmex users

After Thailand’s crypto exchange Zipmex stopped withdrawing last week, local financial regulators are intervening to investigate potential losses to investors.

The Securities and Exchange Commission (SEC) of Thailand has taken steps to gather all the necessary information from investors regarding the impact of the Zipmex issue.

Regulators officially publication On July 25th, Zipmex customers will be able to submit information via the online forum on the official website of the Thai SEC.

The SEC received many complaints from people affected by Zipmex after the crypto exchange temporarily suspended the withdrawal of Thai baht and digital assets on July 20th.

“In the past, the SEC issued a letter requesting the company. [Zipmex] To provide an efficient system for contacting customers and handling complaints and to take into account the protection of their interests, “said the announcement.

Zipmex is officially one of the major crypto exchanges Regulation By the Thai government along with platforms such as Upbit, Bitkub. The Zipmex exchange suddenly stopped withdrawing last week due to “combination of situations” beyond the control of the company, including “unstable market conditions”.

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The suspension of withdrawal occurred when Bitcoin (BTC) reached a weekly high of over $ 24,000. Zipmex partially resumed some operations on the platform and resumed withdrawals from the trade wallet two days after disabling withdrawals. “Remittances, deposits and transactions from Z Wallet will continue to be invalid until further notice,” the company said.