Return of Only 10% of Funds to Creditors Planned by Zipmex Investor

Zipmex may only return 10-20% of funds to creditors as the deadline for creditor protection expires on 23 April, according to unidentified investors. The investors, who reportedly pledged to repay in full, are demanding a new agreement as some requirements of the earlier deal were allegedly not satisfied. In a court filing, investor V Ventures was rumoured to be the Asian exchange’s new investor. Zipmex filed for Singapore bankruptcy protection in July 2020, following a liquidity crisis caused by Voyager Digital, Babel Finance and the collapse of the Terra Luna ecosystem. The contagion forced withdrawals to be paused. On 30 March, the court granted a three-week extension of the creditor protection.