SEC joins investigation agencies to probe Zipmex
The Securities and Exchange Commission (SEC) on Monday held discussions with the Department of Special Investigation (DSI) and the Economic Crime Suppression Division about possible lawsuits against Zipmex Thailand.
SEC secretary-general Ruenvadee Suwanmongkol led some SEC senior officials in a meeting with the DSI and economic crime suppression officials at the DSI head office on Monday morning over the Zipmex Thailand debacle.
After the meeting, the SEC announced that the three agencies had agreed to join forces to investigate the case as “it may cause a lot of damage to investors”.
The SEC announced that the three agencies would also consider whether Zipmex Thailand had violated other laws apart from the digital assets business act, which is under the SEC’s jurisdiction.
So far, Zipmex Thailand has not yet formally announced the exact amount of damage to its customers, who had deposited their cryptocurrency coins in the ZipUp+ product of Zipmex Global via Zipmex Thailand.
Zipmex Thailand said all the deposits in the ZipUp+ have been frozen because two related crypto exchanges, Babel Finance and Celsius, had suffered a liquidity crunch. Celsius has gone bankrupt. Zipmex Thailand said it would sue Babel Finance for the return of its customers’ digital assets.
