Zipmex, the South Asian crypto exchange that froze withdrawals because of a lack of liquidity earlier this year, has secured creditor protection for all its entities until April next year, according to an update on the company's website.

The extension was granted by Singapore's High Court alongside a directive that states any takeover deal for Zipmex must be completed by Dec. 21. On Nov. 18, Zipmex was still in "advanced talks" in terms of a rescue deal, according to a person familiar with the matter.

(By Oliver Knight)