The cryptocurrency exchange WOO X is facing issues related to withdrawal delays. According to blockchain researcher ZachXBT, users of the platform report that their requests remain in 'pending' or 'processing' status for up to three days. The current situation raises concerns among the exchange's clients, as delays may signal more serious liquidity or technical issues with the platform's operation.
According to ZachXBT, WOO X was incubated by Kronos Research and was acquired by FusionX Digital in Q4 2025. The blockchain researcher noted that FusionX Digital has connections with Sheldon Xia, the founder of the cryptocurrency exchange BitMart. It is worth recalling that in July 2026, BitMart announced its cessation of operations and restructuring, after which users complained about access issues to their locked funds. ZachXBT also pointed out that Sheldon Xia made statements regarding the security of user assets; however, these claims have not been verified by independent sources.
In response to the current withdrawal delays, the WOO X team confirmed that they are aware of the issues and are working to resolve them. In an official statement, the exchange said: 'We are aware of reports regarding prolonged withdrawal processing and are reviewing the relevant cases and system status.' They urged clients experiencing withdrawal delays to contact customer support with the necessary information. Users are strongly advised not to share their passwords and other confidential information with third parties, as well as to monitor official announcements and support channels of WOO X. It is important to note that the company has previously faced serious incidents: in July 2025, WOO X suffered a hack amounting to $12 million.