Troubled Asian cryptocurrency exchange Zipmex is in advanced buyout talks with its investor, venture capital fund V Ventures, Bloomberg reports, citing people close to the matter.
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A spokesperson for the exchange told Bloomberg that the company is on track to sign an important agreement this week, without disclosing the buyer. The financial terms of the deal also remain unclear.
Earlier in July, Zipmex filed for bankruptcy protection against its Singaporean creditors after it had suspended withdrawals for all of its users, citing a "combination of circumstances" beyond its control. Bangkok-based cryptocurrency exchange said that the moratorium would help to protect Zipmex "against third party actions, claims, and proceedings."
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