Lipsky was due to tee off at 1243 local time (1743 BST) in Friday’s second round in a group also containing former Open champion Henrik Stenson and South Africa’s Richard Sterne.
However, the 30-year-old lost track of the time while on the putting green behind the first tee and arrived seconds too late as the fans counted down the seconds.
“I was putting on the putting green, I wasn’t keeping track of what was going on,” Lipsky said. “My caddie was clearly not keeping track of what was going on, it’s on both of us. I take responsibility but at the end of the day we’re a team and he has to take responsibility as well.
“I never felt like murdering anyone more than my caddie on the first tee but he’s alive, not gonna go to jail.
“The fans were counting down and I had no idea what was going on. Two-shot penalty on the first and I went on to birdie it. My mindset was shot for the rest of the day, always on edge.
“There was this chance that the penalty might be rescinded because the time was so borderline, it was literally a second.”
Lipsky bogeyed the last three holes of his second round to shoot 74 but made the cut on the mark of four over par.
“It just shows how stupid we can all be and I have to take responsibility for that but I made the cut so just have to make the most of the weekend,” he told the European Tour website.
“I don’t know whether I should go into the weekend feeling like it was a gift that I made the cut. I played better than where I am at the moment.”