Update on Moratorium Applications

August 01, 2022

Dear Zipmex customer,

Update on Moratorium Applications in Singapore

We refer to our announcements dated 27 July 2022 and 29 July 2022.

Pursuant to the Court’s directions, our solicitors in Singapore had earlier today effected the filing of the 2nd Affidavit of Marcus Lim, the Group’s CEO, in HC/OA 383/2022. Mr Lim had also commissioned his earlier draft affidavits and these have been filed today as well.

Copies of the six affidavits filed today have been made available to verified creditors from the following Dropbox link – https://www.dropbox.com/s/0kebdqpo6nki0yu/1%20August.zip?dl=0.

If you are a creditor that has already been verified pursuant to the process set out in our announcement of 29 July 2022, you can proceed to view and open the affidavits 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 before you will be provided with the password to access the documents.If you have any queries on the moratorium or would like to express your support for the Zipmex Group’s moratorium and restructuring plans, please feel free to email our solicitors at [email protected].

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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.

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