Crypto exchange Zipmex has appointed restructuring firm KordaMentha to help it formulate a restructuring plan. KordaMentha will work with Zipmex's management and Morgan Lewis Stamford, appointed attorney-at-law in Singapore, to examine how best to restructure the company and protect assets. Foresight News previously reported that Zipmex had loaned $48 million to cryptocurrency lender Babel Finance and loaned $5 million to Celsius, but none of them were repaid. On August 15, Zipmex received three months of creditor protection in Singapore, giving it time to develop a recovery strategy.