According to a announcement, the troubled cryptocurrency exchange Zipmex filed for an extension of its moratorium agreement by two months to the Singapore court that is handling its bankruptcy reorganization.

The investor who failed to pay the scheduled payments in connection with a possible takeover made this request.

According to reports, the investor is a Thai investment company called V Ventures. It claims that the Scheme of Arrangement is void and it is not bound by the contract. In March, it was reported that the investment firm missed a payment of $1.25 million.

In February , the company’s CEO Marcus Lim said to CoinDesk that a contract had been “signed but not closed” before a withdrawal plan was developed.

Zipmex’s latest update suggests that withdrawals will be further delayed, but the company has said it would negotiate with investors to maximize their returns.

Zipmex has filed for bankruptcy protection after being affected by the crypto-contagion caused by the collapse of Terra’s $60 billion ecosystem. Zipmex issued to Babel Finance and Celsius Network . Both loans went unpaid as a result of Terra’s collapse.

Stephen Alpher edited the book.