#Indian exchanges suspend withdrawals#
Hot Topic Overview
Overview
Indian crypto exchange Mudrex recently announced a suspension of cryptocurrency withdrawals, expected to resume on January 28. The exchange stated that this move is intended to upgrade the platform’s compliance framework and prevent exploitation by malicious actors. This decision has sparked questions within the community as Mudrex is one of the few exchanges in India that allows crypto withdrawals. While Mudrex assures users that their funds are safe and fiat withdrawals remain unaffected, this suspension has generated concerns among users and ignited discussions regarding India's crypto regulatory landscape.
Ace Hot Topic Analysis
Analysis
Indian crypto exchange Mudrex recently paused cryptocurrency withdrawal functionality, expected to resume on January 28. The official explanation states that this move is to conduct platform compliance upgrades and prevent abuse by bad actors. Mudrex co-founder and CEO Edul Patel emphasized the importance of enhanced compliance, stating it is crucial for ensuring the healthy development of the cryptocurrency industry. Notably, Mudrex is one of the few Indian exchanges that allows cryptocurrency withdrawals, and this suspension has raised community questions. Another Indian crypto exchange, CoinDCX, also launched cryptocurrency withdrawal functionality in January, but users opting for withdrawal will be permanently disabled from depositing Indian Rupees. Currently, Mudrex's INR fiat withdrawal functionality remains unaffected, user funds are secure, and cryptocurrency and INR deposit services are operational.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Indian crypto exchange Mudrex has paused withdrawals for platform upgrades to strengthen compliance measures and prevent abuse by bad actors.
The pause is temporary and is expected to resume normal service after the upgrade is completed on January 28.
User funds are safe, INR fiat withdrawals are unaffected, and crypto and INR deposit services remain operational.
Mudrex is one of the few exchanges in India that allows crypto withdrawals, and this move has raised questions and concerns in the community.