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Crypto Exchange Zipmex Suspends Withdrawals, Citing Market Volatility

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The Zipmex cryptocurrency exchange on Wednesday blocked users from taking direct custody of their coins, citing volatile market conditions godbole17 reports

Established in 2018, Zipmex offers crypto trading and investment services in Thailand, Indonesia, Singapore and Australia.

with investment from the Bank of Ayudhya, one of Thailand's largest banks. As of June, Coinbase had agreed to make a strategic investment in Zipmex and the Singapore-headquartered entity was working on a Series B+ raise projected to raise its valuation to $400 million.

 

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godbole17 Bottom line: you can NEVER 'take a direct custody of your coins' on a CUSTODIAL crypto exchange ☝️ Non-custodial is the way forward.

godbole17 Lots of exchanges acting like banks lately

godbole17 Theft.

godbole17 Another confirmation that you need to use only large and proven exchanges, and you should keep there as little money as possible

godbole17 🤔

godbole17 Not your keys not your coins

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Crypto exchange Zipmex halts withdrawals due to 'volatile market conditions'Zipmex joins Celsius, CoinFLEX, Vauld and Babel Finance in freezing client funds amid stresses in crypto markets. Zipmex? Lmao what’d you expect Not your keys not your crypto !!!
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