Zipmex Announces Plans to Release a ‘Specific Amount’ of ETH and BTC

Embattled Asia Pacific exchange Zipmex has announced it will enable its Z Wallet customers to partially withdraw some of their Bitcoin and Ether holdings.

After details of its liquidity crisis emerged last month, Zipmex has named August 11 and 16 as respective dates for releasing “a specific amount” of ether and bitcoin.

Crypto Twitter Questions Zipmex Wording

Predictably, Crypto Twitter was quick to query the vagueness of the Zipmex announcement:

Restructure a Work in Progress

On July 20, Zipmex halted withdrawals from the platform, citing exposure to Babel Finance and Celsius. Following a restructuring plan, the exchange has been working with customers and regulators to ensure funds are returned. Last week, it announced withdrawals for altcoins including Solana (SOL), Cardano (ADA) and Ripple (XRP).

Zipmex operates in four countries – Singapore, Australia, Indonesia and Thailand – and offers both spot trading for cryptocurrencies and interest on deposits.