#Indian crypto exchanges suspend withdrawals#

70
2
Posts
Hot Topic Details

Hot Topic Overview

Overview

Indian crypto exchange Mudrex recently announced a suspension of cryptocurrency withdrawals, which is expected to resume on January 28th. The suspension is for platform upgrades, enhanced compliance measures, and to prevent abuse by bad actors. A Mudrex co-founder said the move is to ensure platform security and continuous service improvement. Notably, Mudrex is one of the few exchanges in India that allows crypto withdrawals, making this suspension a cause for concern in the community. Another Indian crypto exchange, CoinDCX, also launched crypto withdrawal functionality in January, but users who choose to withdraw will permanently disable their Indian Rupee deposit function.

Ace Hot Topic Analysis

小 A

Analysis

Indian crypto exchange Mudrex recently announced the suspension of cryptocurrency withdrawals, sparking concerns within the community. The exchange claims the move is for platform upgrades, strengthening its compliance framework and preventing abuse by bad actors. The withdrawal suspension will last until January 28th, during which users can still perform cryptocurrency and Indian Rupee deposits, as well as Indian Rupee withdrawals. Mudrex co-founder Edul Patel stated that the platform requires necessary compliance upgrades to ensure cryptocurrency security and prevent its use in illicit activities. Notably, Mudrex is one of the few Indian exchanges allowing cryptocurrency withdrawals, making this move a cause for community anxieties regarding the platform's security and transparency. Another Indian crypto exchange, CoinDCX, also launched cryptocurrency withdrawal functionality in January, however, users choosing to withdraw will permanently disable their Indian Rupee deposit feature.

Related Currencies

Public Sentiment

0%
100%

Discussion Word Cloud

Classic Views

Indian crypto exchange Mudrex has paused withdrawals to undergo platform upgrades for enhanced compliance measures and to prevent misuse by bad actors.

1

The pause is temporary and normal services are expected to resume after the upgrade is completed on January 28.

2

Mudrex is one of the few Indian exchanges that allow crypto withdrawals, and this pause has raised questions in the community.

3

INR fiat withdrawals are unaffected, user funds are safe, and crypto and INR deposit services are still operational.

4