Troubled cryptocurrency exchange Zipmex said it has received an offer from an interested party.
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Singapore-based Zipmex announced via its Twitter account on Sunday that its “conversations with various interested parties have progressed significantly.”
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“One of those parties has offered terms in an MOU which includes confidentiality obligations so as to be able to commence due diligence,” Zipmex added.
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CoinDesk understands that Zipmex is seeking offers for investment, as opposed to a buy-out.
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Last week, CoinDesk reported that Zipmex was facing a loss of around $100 million of funds lent to Hong Kong-based crypto lender Babel Finance. Babel froze withdrawals in mid-June amid the sharp downturn in the crypto market which triggered a flurry of liquidations defaults relating to over-leveraged firms like Three Arrows Capital and Celsius Network.
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Zipmex had previously blocked users from taking direct custody of their coins owing to volatile market conditions, imitating the steps taken by Babel and Celsius. This move led to Thailand’s Securities and Exchange Commission to look into potential losses among the public that it may have caused, Reuters reported on Monday.
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As well as Thailand, Zipmex offers crypto trading and investment services in Indonesia, Singapore and Australia.
Read more: Celsius Bankruptcy Filings Hint Retail Customers Will Bear Brunt of Its Failure
