Users of the WOO X cryptocurrency exchange have reported delays in withdrawing funds. According to blockchain researcher ZachXBT, some verified users have stated that their requests have remained in "pending" or "processing" status for the past three days.
ZachXBT Highlights Connections of WOO X
According to ZachXBT, WOO X was incubated by Kronos Research and was acquired by FusionX Digital in Q4 2025. The researcher noted that FusionX Digital is reportedly linked to BitMart cryptocurrency exchange founder Sheldon Xia.
On July 26, 2026, BitMart announced it was ceasing operations and undergoing restructuring. Following this, users reported losing access to locked funds, and the number of complaints on social media platform X continued to rise.
According to ZachXBT, Sheldon Xia has made public statements regarding the security of user assets, but these claims have not been verified by independent sources.
WOO X States It Is Investigating the Situation
WOO X confirmed it is aware of reports regarding prolonged withdrawal processing times. The team stated it is investigating the relevant cases and the system status.
The company noted that some requests might be in the verification stage or being processed on the blockchain. The crypto exchange's teams are working to resolve the issue.
For users experiencing withdrawal delays, the exchange recommended contacting the official support service, providing UID, order ID, request creation time, asset and network, as well as a screenshot of the status.
WOO X also urged users not to share passwords, seed phrases, private keys, or verification codes with third parties. The company emphasized that users should rely only on official WOO X announcements and support channels.
Recall that in July 2025, WOO X suffered a hack resulting in a $12 million loss.
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