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Crypto Woes Spread as Celsius, Babel Links Hit Another Firm

  • Zipmex has halted withdrawals due to difficulties at partners
  • Has $48 million exposure with Babel, $5 million with Celsius
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Zipmex, a cryptocurrency exchange that operates in markets like Singapore and Thailand, halted withdrawals as the fallout from a series of defaults spreads further throughout the digital-assets industry. 

The Asian platform is the latest to encounter financial difficulties stemming from dealings with troubled crypto lenders Babel Finance and Celsius Network Ltd. Zipmex has $48 million of exposure to Babel and $5 million with Celsius, it said on its Facebook page on Thursday.