Thai SEC launches digital hotline for Zipmex users

Investors affected by Zipmex's suspension of withdrawals can submit information about their losses via an online forum on the official SEC website Thai.

Following the cessation of withdrawals from Thai cryptocurrency exchange Zipmex last week, local financial regulators are stepping in to review potential losses for investors.

Thailand's Securities and Exchange Commission (SEC) is taking steps to collect all necessary information from investors on how they have been affected by the issues on Zipmex.

The regulator officially announced on July 25 that Zipmex customers can submit information via an online forum on the official Thai SEC website.

The SEC received a number of complaints from people affected by Zipmex after the crypto exchange temporarily suspended withdrawals of Thai baht and digital assets on July 20, the regulator said.

"In the past, the SEC issued a letter asking the company [Zipmex] to provide an effective system for contacting customers and handling complaints, as well as taking into account the protection of customers' interests," notes the announcement. .

Zipmex is one of the major cryptocurrency exchanges officially regulated by the Thai government, alongside platforms like Upbit, Bitkub, and others. The Zipmex exchange abruptly halted withdrawals last week, citing a "combination of circumstances" beyond the company's control, including "volatile market conditions".

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The pause in withdrawals came in the middle of Bitcoin (