Thai investment firm Country Group Holdings and Chalermchai Mahagitsiri, the son of a Thai billionaire, are in advanced talks with Zipmex, The Block reported, citing sources. Mahagitsiri plans to invest in Zipmex through his cybersecurity services firm called Cloudsec Asia, the sources said, adding that Mahagitsiri is also one of Zipmex's biggest creditors. Mahagitsiri owns 10 percent of Cloudsec Asia through its venture capital arm, V Ventures Technologies Company. Notably, V Ventures is also an existing investor in Zipmex, participating in its Series B round last September. CGH is an investor in Thailand’s Cryptomind Group, which operates a decentralized finance (DeFi) asset management platform called Elkrem Capital.