Announcement: Deposits and withdrawals for ADA will be temporarily suspended

February 09, 2023

Due to the Cardano (ADA) network upgrade and hard fork, we will temporarily suspend all deposits and withdrawals of ADA as a precautionary measure.

From: 14 February 2023, 19:00 (UTC+8) until further notice.

Your existing ADA balance will not be affected. No action is required from you.

We will keep you updated on further progress.

Note: Currently trade and deposit functions on our platform are paused.

For further enquiries, please reach out to Customer Support on Live Chat – we’re ready to help 24/7

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The information provided herein is for general information only. It should not be taken as professional consulting, legal or financial advice from Zipmex Pte Ltd (Singapore UEN No. 201830972H) or any affiliated entities.

You should consider seeking independent legal, financial, taxation and/or other advice to confirm any information you receive and how this information might relate to your unique circumstances. Currently, the activities of Zipmex are not regulated or licensed by the Monetary Authority of Singapore (“MAS”).

As cryptocurrency and digital tokens involve high risks, investors may lose all their investment money and should make any investments according to their own risk profile. For more information visit https://zipmex.com/

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RISK WARNING ON DIGITAL PAYMENT TOKEN SERVICES

The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of Zipmex.

Before you pay Zipmex any money or DPT, you must be aware of the following.

  1. Zipmex is not currently licensed by MAS to provide DPT services. This means that you will not be able to recover all the money or DPTs you paid to Zipmex if Zipmex’s business fails.
  2. You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by Zipmex.
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  4. You should be aware that Zipmex may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
  5. DPT held in your Hosted Wallet is not subject to the Singapore Deposit Insurance Scheme (“SDIC”) or any similar insurance or guaranty scheme of any other jurisdiction. In addition, funds stored in your Fiat Wallet do not benefit from the SDIC or any similar insurance or guaranty scheme of any other jurisdiction.

ZipUp+ products have not been approved by the Monetary Authority of Singapore (“MAS”) under the Payment Services Act 2019 and MAS has not reviewed or approved any features of these product offerings. Please review this link for the full terms and conditions and risk disclosure.

ZipUp+ products are not defined as “deposits” under Section 4B of the Banking Act and hence there is no insurance by the Singapore Deposit Insurance Corporation Limited in the event if Zipmex Pte. Ltd. fails.