WOO X users report withdrawal delays as the exchange says it is reviewing complaints

Several WOO X customers told ZachXBT they could not withdraw funds for hours or even days, including failed USDC withdrawal attempts. For PSPs and high-risk operators, the part that matters is simple: when users start seeing stuck withdrawals, the operational problem becomes a trust problem very quickly.

1. One WOO X user told ZachXBT they had been unable to withdraw money for three days. Another said a transfer to a cold wallet had been pending for more than six hours. Several users also complained about cancelled attempts to withdraw USDC from the platform.
2. After ZachXBT published the complaints, WOO X said it was aware of reports about withdrawal processing times and was reviewing the cases. The company asked users to contact support with their UID, request ID, request time, asset, network, and a screenshot of the status.
3. WOO X initially threatened legal action against dissatisfied users who “fabricate, distort, or maliciously spread false information.” That paragraph was later removed and replaced with a softer request not to trust “unverified statements.” ZachXBT asked WOO X why the post had been changed, but the exchange did not respond.
4. WOO X started operating in 2019. In 2025, BitMart founder Sheldon Xia joined WOO X’s global strategic committee. BitMart announced at the end of July that it would shut down after nine years in business: account registration and openings stopped the same day, spot and futures trading will end on 26 August, and full closure is scheduled for 31 January 2027. Customers were told withdrawals would remain available, but complaints are still coming in. ZachXBT said millions of dollars in customer assets on BitMart remain locked.
5. In late June, ZachXBT also flagged withdrawal issues at another centralized crypto exchange, AscendEX, formerly BitMax. The exchange later stopped all operations.

For high-risk merchants and PSPs, the practical takeaway is not the Twitter noise itself. It is that withdrawal friction at a centralized venue can become a public risk signal fast, especially when users begin comparing it with other exchanges already under closure or shutdown pressure.