WOO X cryptocurrency withdrawal delays

Users of the cryptocurrency trading platform WOO X have reported significant delays in fund withdrawals, with some transactions remaining in pending or processing status for several days. On-chain investigator ZachXBT brought attention to the issue, noting patterns of frozen transactions and cancellations.

WOO X responded by stating it is investigating individual cases and reviewing system status, attributing delays to blockchain processing and manual internal reviews. The exchange later denied rumors of systemic issues and released a proof of reserves page, claiming to hold $44.5 million in wallets, which exceeds the $43.4 million held in user funds. The company also noted that official support channels had not received reports of these issues prior to them surfacing on social media.

The situation has drawn scrutiny due to WOO X being acquired by FusionX Digital in late 2025. FusionX Digital is linked to Sheldon Xia, the founder of BitMart, an exchange that announced a restructuring in July 2026 that left many users unable to access their funds. While Xia has made statements regarding the safety of user assets, these claims have not been independently verified.