Update On Moratorium Application

March 20, 2023

20 March 2023


HC/OAs 381 – 385/2022 (THE “APPLICATIONS”)

Dear Zipmex customer,

Our solicitors in Singapore, Morgan Lewis Stamford LLC, have informed us that they have filed the following documents relating to the Court-supervised restructuring of the Zipmex Group in Singapore:

  • Three Originating Applications for approval of the pre-packaged schemes of arrangement under Section 71(1) of Singapore’s Insolvency, Restructuring, and Dissolution Act 2018, which are supported by three affidavits affirmed by Mr. Lim Wei Xiong Marcus;
  • Five applications for extension of the moratoria in the Applications, supported by the 23rd affidavit of Mr. Lim Wei Xiong Marcus filed in HC/OA 383/2022 and the 1st affidavit of Jonathan Tang Yuan filed in HC/OA 381/2022.

Copies of the filed Affidavits and their accompanying exhibits can be downloaded at the following Dropbox link:  

Dropbox

If you have been verified as a Zipmex user, you can proceed to access the documents with the same password previously provided. If you have not yet verified your email account as a user, customer, or creditor of any of the Zipmex Companies, please send an email to [email protected] for a verification check to obtain the password.

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

Singapore:

Email: [email protected]

Facebook: Zipmex Asia

Thailand:

Email: [email protected]

Facebook: Zipmex Thailand

Indonesia

Email: [email protected]

Facebook: Zipmex Indonesia

Australia:

Email: [email protected]

Facebook: Zipmex Asia

We offer investors a variety of opportunities in the digital assets industry. Our innovative platform provides access for anyone seeking investment returns anywhere, anytime. Our ecosystem aims at making finance an everyday enriching activity.

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.
  3. You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
  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.