Thai SEC has set up a hotline for victims of Zipmex

If you recall, a week ago, the cryptocurrency exchange Zipmex suspended withdrawals. Immediately following such a landmark event, local regulators took up the case, quite logically, as users can't get their funds.

And now it looks more like a coordinated attack by Zipmex, but a fair one, because the Thai SEC (yes, yes, don't be surprised, there is one) is now collecting complaints from all investors who suffered from the withdrawal blockage.

Regulators quote: “In the past, the SEC issued a letter requesting the company [Zipmex] to provide an efficient system to contact customers and handle complaints, as well as to take into account the protection of the interests of customers,” the announcement notes.

Zipmex is one of the leading cryptocurrency exchanges officially regulated by the Thai government, along with platforms such as Upbit, Bitkub and others. Last week, the Zipmex exchange suddenly stopped withdrawing funds, citing a "confluence of factors" beyond the company's control, including "unstable market conditions".

Now, though, Zipmex seems to have revived slightly, and even two days after withdrawals were blocked, it has allowed it to do so from spot trading wallets. However, the company says other withdrawals will be frozen for the time being.