News Forum - Zipmex could reach 5 billion baht in losses for investors

[Thaiger]

Losses for mostly Thai and Singaporean investors could reach 5 billion baht after the apparent failure of the cryptocurrency exchange Zipmex. Zipmex suspended both withdrawals or transfers of digital currencies on Wednesday at 6pm due to “financial difficulties” stemming from its loans to two crypto lenders who are currency facing liquidity problems and have also locked out their investors from trading or removing their digital investments. The difficulties are with the ZipUp+ and Zipmex Global (Singapore). Zipmex is, or was,  Thailand’s second largest cryptocurrency exchange. Zipmex’s co-founder and CEO Akalarp Yimwilai claims that the financial damage is lower than the […]

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[Fanta]

Zipmex share price has gone from 217 baht to 14 baht.  Why am I not surprised. 

[Janneman]

2 hours ago, Fanta said:

Zipmex share price has gone from 217 baht to 14 baht.  Why am I not surprised. 

Dunno. I sure am surprised they trade at 14, not at 0.01. That is where they will be in 1 or 2 months.

[TheDirtyDurian]

"Losses for mostly Thai and Singaporean gamblers could reach 5 billion baht"

Fixed that for the Thaiger ....

Investors would imply some kind of knowledge of what they were getting into. ..

[palooka]

3 hours ago, Janneman said:

Dunno. I sure am surprised they trade at 14, not at 0.01. That is where they will be in 1 or 2 months.

Not that long

[Ramanathan.P]

A legal way of cheating and stealing people's life savings....

[Marc26]

On 7/22/2022 at 1:52 AM, TheDirtyDurian said:

"Losses for mostly Thai and Singaporean gamblers could reach 5 billion baht"

Fixed that for the Thaiger ....

Investors would imply some kind of knowledge of what they were getting into. ..

My stepson and all the kids at Universities in Thailand have been buying all this crap

 

And losing all their money......

[TheDirtyDurian]

1 hour ago, Marc26 said:

My stepson and all the kids at Universities in Thailand have been buying all this crap

And losing all their money......

I work with a guy who wouldn't shut up about crypto in the office, how it was paying for his masters blah blah blah. 

Haven't heard him say a word for about a year now .

It's easy to make out like you're Warren Buffet when the market is on the up. Not so easy when it's on the way down. . 

[Janneman]

3 hours ago, Marc26 said:

My stepson and all the kids at Universities in Thailand have been buying all this crap

And losing all their money......

Dont forget, a lot of people bought either Zipmex shares, or some crypto through Zipmex. They paid with real money. Which means there are also people who sold either those shares, or the crypto. Most likely both. And those people are now enjoying a well-earned holiday. Not in Thailand or Singapore I think.