WOO X Withdrawal Delays Spark Fears of Another Exchange Collapse

WOO X users are experiencing withdrawal delays, prompting concerns about the reliability of the crypto trading platform. According to on-chain investigator ZachXBT, a pattern of transactions has been frozen in 'pending' or 'processing' status for more than three days, with some reportedly canceled outright.

The issue surfaced as FusionX Digital, WOO X's parent company, is linked to Sheldon Xia, the founder of BitMart. BitMart users were left unable to access their funds after it announced restructuring in July 2026. The timing raises questions about the security of user funds and whether WOO X will follow a similar path.

WOO X acknowledged the situation publicly on September 6, attributing some delays to manual review processes and ongoing blockchain processing. However, no timeline was provided for resolution or specifics offered about the security of user funds.