WOO X Withdrawal Issues Raise Red Flags Over Centralized Exchange Reliability

A recent community alert from on-chain investigator ZachXBT highlighted withdrawal issues at cryptocurrency exchange WOO X. Multiple users reported that their withdrawal requests had been stuck in pending, processing, or submitted status for hours and up to three days.

ZachXBT compiled these complaints and publicly asked the exchange why the transfers had not moved. WOO X responded by saying they were reviewing individual cases and system status but did not announce a platform-wide withdrawal halt.

The issue has raised concerns about centralized exchange reliability, particularly given BitMart's recent wind-down of its trading platform less than two months ago. The affected users have been asked to contact official support with their details and screenshots, but WOO X has not provided a list of affected assets or blockchain networks, nor a resolution deadline.

The ownership structure of WOO X, which was taken over by FusionX Digital in October 2025, has also been questioned. FusionX Digital is based in the British Virgin Islands, an offshore jurisdiction, and BitMart founder Sheldon Xia sits on WOO X's Global Strategy Committee.