Update on Scheme Arrangement

February 15, 2023

We would like to inform you that the scheme documents have already been sent out via email to all eligible creditors of Zipmex by our scheme manager KordaMentha. The creditors can put in their vote until 21 February 2023.

Only those eligible will have received an email to participate in the scheme. If you are unsure of your eligibility, please contact our Customer Support team before the voting period ends.

For creditors to fill in the amount of the digital assets held in the Z Wallet owed in the given form, we advise that you fill in the amount that you believe you are owed. You can also learn how to check your Z Wallet balance here.

Please note that ZMT in ZipLock is not included as part of the scheme. Also, ZMT and GOLD are now transferrable from your Z Wallet to Trade Wallet . Only the current balances of ZMT & GOLD in your Z Wallet as at the date of your voting will be counted for the purposes of the scheme.

Any discrepancies in the balances will be part of the adjudication process, which the scheme managers are aiming to finalise by 21 March 2023* (*subject to change).

Note that the proof of debt is for verification purposes only. The creditors will receive 100% of their digital assets in the Z Wallet once we give full access to Z Wallets upon approval of the scheme and any investment deals are closed.

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

Email: [email protected]

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Thank you.

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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.
  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.

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.