Zipmex enables up to $153 worth of ETH withdrawals

Zipmex, the lender that had halted customer withdrawals on July 20, is allowing customers to access and withdraw up to 0.08 Ethereum (ETH) tokens, worth around $153 at the time of writing, starting Aug. 11

The firm will transfer the ETH tokens from the users’ Z wallets, used to earn interest and bonus, to the Trade wallets, used for trading and withdrawing. The customers would then be able to withdraw the Ethereum tokens to their private wallets.

All users with less than 0.08 ETH in their Z wallets will receive their assets in full in the Trade Wallets. However, those with over 0.08 ETH will have to wait for further updates.

The firm will also enable users to withdraw 0.0045 Bitcoins (BTC), worth about $111 at the time of writing, from Aug. 16, according to the official statement. The tokens will similarly be transferred from the Z wallets to the Trade wallets.

According to Zipmex, these transfers will allow most of its users to receive their assets in full in regard to five tokens — Bitcoin and Ethereum, as well as Solana (SOL), Ripple (XRP), and Cardano (ADA), which were fully returned to customers over the last week.

However, the lender added that the reinstatement of these withdrawals is just one step towards the larger goal of returning all customer assets.

In its statement, Zipmex said:

“We remain committed to complete transfers of all customers’ assets in a gradual manner and to accelerating all actions to resume the full service of Z Wallet.”

The firm added that it remains committed to building its native ZMT token, which received an additional investment from an existing backer. Zipmex is also trying to resume the functioning of its Z wallet, it added in the statement.

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