Zipmex opens withdrawal of funds from trading wallets
Zipmex announced the resumption of withdrawals from its trading wallets two days after the platform suspended this feature. The exchange noted that the withdrawal of funds to Z Wallets will remain disabled.
Zipmex uses two types of wallets to manage its assets. The first is called a trading wallet, where users can deposit fiat and other crypto assets if they want to trade on the platform. Z Wallet is the second type of wallet into which exchange users can deposit funds to receive rewards and bonuses.
In its update, Zipmex announced that users can withdraw funds from trading wallets starting at 7:00 am Friday Eastern time. However, the firm added that Z Wallets wallets will remain closed, which means that normal operation will not be restored.
Earlier this week, the exchange froze all customer funds, citing "financial difficulties" of its key financial partners. The exchange seems to have suffered from the cascading effects of the financial crisis in the crypto sector.
Earlier, Zipmex confirmed that it has $48 million invested in Babel Finance and $5 million in Celsius, two other firms in dire straits that withheld customer funds due to insolvency problems.
https://coin-signal.com/cryptonews/zipmex-opens-withdrawal-of-funds-from-trading-wallets/
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