Closed
Closed
Zipmex
Singapore
Founded in
2018 (8 Years)
Founded
Last online: No recent activity
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OVERALL SCORE
Licenses
--/40
Reviews
--/60
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Security Information
Warning
This company is currently Unproved.
Please be cautious of the potential risks!
License
A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
Warning Report
Warning Report is a record of alerts about trading activities, account management, or compliance issues. It helps you keep track of potential risks or problems in your trading account.
Pending the investigation by the employees
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Jun 11, 2567
Between July and September 2022, Zipmex Co., Ltd. ("Zipmex") failed to comply with orders from regulatory officials to submit information regarding its business and operations. This included data on the wallets used to store customers' assets and details of digital asset transfer or withdrawal transactions. Zipmex did not provide the requested information within the specified timeframe and, even after receiving reminders from the officials, only submitted incomplete data. Additionally, Zipmex delayed submitting the requested information without reasonable cause or justification.
There was a comparative order dated 1/2023, imposing a fine of 670,000.00 baht.
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Jun 11, 2567
Between May 8, 2022, and July 20, 2022, Zipmex Co., Ltd. ("Zipmex"), as a digital asset business operator in the categories of digital asset exchange and digital asset brokerage, engaged in activities beyond its authorized digital asset business without permission from the Securities and Exchange Commission (SEC). The company solicited its customers to use the ZipUp+ program of Zipmex Pte. Ltd., benefiting from fees related to the exchange of customers' digital assets. Furthermore, Zipmex did not have a system in place to prevent conflicts of interest or to control risks to customers' assets.
There was a comparative order dated 1/2023, imposing a fine of 370,000.00 baht.
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Jun 11, 2567
Between September 15, 2021, and May 7, 2022, Zipmex Co., Ltd. ("Zipmex"), as a digital asset business operator in the categories of digital asset exchange and digital asset brokerage, did not comply with the regulations announced for the storage of customers' digital assets in the digital asset deposit project for returns in Thailand. The company failed to segregate the assets under its custody in a manner that clearly identified them as customers' assets beyond any doubt. Furthermore, these digital assets might have been used for other purposes.
There was a comparative order dated 1/2023, imposing a fine of 325,000.00 baht.
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Jun 11, 2567
Zipmex Co., Ltd. ("Zipmex"), as a digital asset business operator in the categories of digital asset exchange and digital asset broker, is required to report the results of a penetration test to the Securities and Exchange Commission (SEC) by July 14, 2022. However, Zipmex reported the results of the penetration test on August 8, 2022, which was a late submission and did not comply with the established regulations.
There was a comparative order dated 1/2023, imposing a fine of 2,150,000.00 baht.
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Jun 11, 2567
Since January 1, 2022, Zipmex Limited, as a digital asset business operator, providing digital asset exchange and digital asset brokerage services, does not have policies, measures, and procedures for delegating operational responsibilities to other persons related to the operation of digital asset businesses, which is not in accordance with the prescribed criteria."
There was a comparative order dated 1/2023, imposing a fine of 697,000.00 baht.
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Jun 11, 2567
Zipmex Limited, as a digital asset brokerage and exchange, failed to report the summary of assignments to other individuals responsible for tasks related to the operation of the business for the fiscal year 2022 within the specified deadline according to the criteria announced, which was December 31, 2022.
There was a comparative order dated 1/2023, imposing a fine of 980,000.00 baht.
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Jun 11, 2567
From approximately mid-2020 to September 7, 2022, Zipmex Limited ("Zipmex"), as a digital asset brokerage and exchange, failed to establish proper management structure and systems, including inadequate staffing as per the specified criteria."
Pending the investigation by the employees
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Jun 11, 2567
Zipmex Limited, a digital asset brokerage and exchange, is required to submit its financial statements for the fiscal year 2022 and announce them on the Zipmex website within the Securities and Exchange Commission's specified deadline of May 2, 2023. However, Zipmex failed to submit its 2022 financial statements and did not announce them on its website within the given timeframe."
Company Information
Get to know Zipmex
Company Information
Get to know Zipmex
Founded in 2018, Zipmex is a digital asset platform that aimed to provide retail and institutional investors with easy access to the cryptocurrency market. The company operated licensed exchanges in Thailand, Indonesia, Singapore, and Australia, offering services like spot trading, interest-earning accounts (ZipUp+), and its native utility token (ZMT). However, in July 2022, the company faced a liquidity crisis due to its exposure to troubled crypto lenders Babel Finance and Celsius, leading to a halt in customer withdrawals. Since then, the company has been undergoing a significant restructuring process under a court-ordered moratorium in Singapore and has faced severe regulatory actions, including license suspensions and revocations in several of its operating jurisdictions.
Industry
- Crypto ExchangePRIMARY
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