Zipmex Files for Bankruptcy Protection!

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Cryptocurrency exchange Zipmex has filed for bankruptcy protection in Singapore to resolve its liquidity issues.

The Exchange had filed five applications on July 22, under Section 64 of Singapore’s Insolvency, Restructuring and Dissolution Act 2018 on behalf of several of the Zipmex Group’s entities.

As per singaporean law these 5 companies are granted an automatic moratorium for 30 days or until the court makes a decision.