Zipmex announced the disclosure of its restructuring progress and applied to the court for a 2-month extension of the suspension period

ChainCatcher news, the cryptocurrency trading platform Zipmex has released an announcement regarding updates to the investment process. The platform's investors initially requested Zipmex Asia to modify the investment amount, which affected the original arrangement approved by the Singapore court.

The investors claim that the SSA (Sales and Purchase Agreement) has become invalid and that they are no longer obligated to comply with the terms of the SSA. The investors also demand that Zipmex repay their operating capital loans. The company is currently in discussions with the investors to find the best feasible solution for all parties, which requires additional time for the investment process.

As a result, Zipmex Asia has submitted an application to the Singapore court to extend the suspension period by another 2 months. The court has not yet set a hearing date. The company plans to use this time to seek a solution for reopening the Z wallet. (source link)