Official Statement from Zipmex

August 11, 2022

Updates and progress on Zipmex’s current situation 

10 August 2022

Zipmex wishes to continuously provide transparency and clarity with regards to the situation we are facing to customers, investors and all related parties. We would like to reassure you that we have sincere intentions and are determined to solve the problems that have arisen; our customers’ assets are our priority.

We would like to clarify the progress in resolving various issues as follows:

Recent developments on the operations of Z Wallet

In order to rebuild confidence and alleviate concerns of the customers and investors, Zipmex has resumed Z Wallet operations as previously committed by gradually transferring unaffected digital assets to customers’ respective wallets since 2nd August 2022. The unaffected digital assets include Solana (SOL), Ripple (XRP), and Cardano (ADA), whereby 100% of the respective tokens in customers’ Z Wallet have been automatically credited to the Trade Wallet.

Zipmex plans to gradually transfer Bitcoin (BTC) and Ethereum (ETH) held in all customers’ Z Wallet to the Trade Wallet in two phases. The details are as follows for the first scheduled transfer.

●      Thursday, 11th August 2022 – Ethereum (ETH) holders will receive up to 0.08 ETH from the Z Wallet, which will be credited to the user’s Trade Wallet. All customers will receive the same amount. Holders of assets less than or equal to 0.08 ETH will receive assets in the full amount.

●      Tuesday, 16th August 2022 – Bitcoin (BTC) holders will receive up to 0.0045 BTC from the Z Wallet, which will be credited to the user’s Trade Wallet. All customers will receive the same amount. Holders of assets less than or equal to 0.0045 BTC will receive assets in the full amount.

Such action will allow most of the customers to receive a transfer of the 5 tokens to their respective Trade Wallets in full amounts under the conditions described above. However, the transfer scheduled on 11th and 16th August 2022 is only the first step in the plan to gradually transfer tokens to all customers’ Trade Wallets at the same time. Zipmex will inform all customers in every country of any further steps.

We remain committed to complete transfers of all customers’ assets in a gradual manner and to accelerating all actions to resume the full service of Z Wallet. We aim to be fully transparent and to provide periodic updates on the progress of the action plan.

The future of Zipmex Token (ZMT)

Zipmex remains determined in continuously developing Zipmex Token (ZMT) across the Zipmex ecosystem as we re-strategize our product roadmap towards a greater vision for ZMT alongside our investors who will help promote the growth and development of ZMT. We are confident that ZMT will significantly move forward and be able to effectively meet the needs of our customers.

In addition, an investor group from existing Zipmex investors has injected new capital to invest in Zipmex Token (ZMT), demonstrating confidence in Zipmex’s potential and that of ZMT. We remain committed and will continue to build on our product roadmap.

We are committed to doing our best towards resuming Z Wallet full services ASAP by upholding transparent and fair business practices.

Thank you for your continued patience and support.

Zipmex Team

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

Email: [email protected] 

Facebook: Zipmex Asia

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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.