Are my funds safe? What happens if Zipmex ceases operations?
Most of our customers funds are held in a cold wallet. Zipmex has a USD $100 million policy covering digital assets with top custodian solution provider BitGo. In the event of third-party hacks or copying, your digital assets are safe and insured.
As additional assurance, BitGo’s security architecture also limits risks: Zipmex has segregated wallets and our security architecture is engineered in a manner that is intended to prevent a breach affecting more than one wallet.
Each wallet is multi-signature with keys that are secured offline in purpose-built, Class III bank vaults.The keys to Zipmex vaults require multiple users to access them with a rigorous and carefully scrutinized process to access the funds.
Our custodian has policies and procedures for changing personnel, restoring systems in the event of local failures, as well as strong audit logging and access controls.
If Zipmex ceases operations, the digital assets will still be with BitGo and users will be able to withdraw their digital assets. Furthermore, Thailand’s SEC net capital rule requirement means Zipmex has 55 M THB in our local bank accounts at all times.