Crypto Exchange Zipmex Allows Users To Withdraw Some Tokens

Crypto Exchange Zipmex

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Crypto Exchange Zipmex Allows Users To Withdraw Some Tokens

Crypto exchange Zipmex will issue Solana (SOL), Cardano (ADA) and XRP tokens to users' wallets in the coming days, as it barred customers from direct custody of their coins last month. Since July 20, customers have not been able to transfer coins from their so-called Z Wallet to their Trade Wallet, preventing them from being able to sell or trade tokens.

The exchange was facing a loss of $100 million in funds given to crypto lender Babel Finance. Babel halted withdrawals in mid-June due to volatile conditions in the cryptocurrency market, which saw a flurry of liquidation defaults related to overleveraged firms such as Three Arrows Capital and Celsius Network.

In the coming week, users will receive the full balance of the three tokens in their trade wallet. “We realize that many users will still have some BTC, ETH and stablecoins remaining in the Z wallet,” Zipmex said. “We are working to ensure that we are in full compliance.

The crypto exchange Zipmex will issue Solana (SOL), Cardano (ADA) and XRP tokens to users' wallets in the coming days, as it barred customers from direct custody of their coins last month. The full wallet balances will be processed by the next week.

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