Former Zipmex Thailand CEO Charged with Fraud and Deception by SEC

The former CEO of Zipmex Thailand, Akarlap Yimwilai, has been charged by Thailand's Securities and Exchange Commission for misleading customers and presenting false information. The SEC found that customer assets held in the crypto exchange's Z Wallet were transferred into overseas digital wallets before an announcement was made regarding changes in terms and conditions, which did not correspond with the information provided by Zipmex Thailand. The SEC has ordered the exchange to suspend its digital asset trading and brokerage services, and has filed a complaint against the CEO with the Office of the Provincial Crime Suppression Division for further legal action. Neither Zipmex Thailand nor Yimwilai have responded to requests for comment.

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