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SEC updates the handling of Zipmex case



Tuesday 3 October 2023 | No. 172 / 2023


Bangkok, 3 October 2023 – As per the inquiries made by the complainants regarding the progress of legal proceedings, which stemmed from the suspension of withdrawals of customers’ digital assets in the ZipUp+ project, the Securities and Exchange Commission (SEC) hereby provides an update on the matter. 

Mr. Anek Yooyuen, Deputy Secretary-General of the SEC, said: “We have been on the case regarding the complaints against the ZipUp+ project of Zipmex Co., Ltd. So far, the SEC has enforced the law on the company and conducted consistent investigations as authorized by law. The enforcement under the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) encompassed various aspects, including asset custody, information disclosure, and undertaking of other businesses in contravention of the governing laws and regulations, etc. We also considered other related matters, including the cases where customers suspect the company of fraud or unauthorized disposal of customer assets, resulting in financial damage. The SEC has been investigating the above issues while maintaining continued collaboration with the Cyber Crime Investigation Bureau.

“The Royal Thai Police has appointed a special investigative task force, led by Police Major Thatchai Pitaneelaboot, Ph.D., Assistant Commissioner General, to expedite the investigation of this particular case. The task force has already conducted interviews with over 400 victims and collaborated with the SEC in verifying relevant information to support consideration of legal violations under the Digital Asset Business Law and other relevant legislations. Thanks to our collaboration, we observe a considerable progress made by the investigative task force. A conclusion should be reached shortly,” he added.  

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