According to CoinDesk, Zipmex faces an enormous loss on a loan of $100 million worth of assets to Babel Finance, an exchange that suspended withdrawals in mid-June and is now hiring restructuring attorneys.
On July 21, the Thai Securities and Exchange Commission sent a letter to Zipmex asking them to explain their decision, requesting details on customer assets under custody and where they were invested — particularly around any assets deposited in Celsius or Babel Finance.