#Indian exchanges suspend withdrawals#
Hot Topic Overview
Overview
Indian crypto exchange Mudrex recently announced the suspension of cryptocurrency withdrawals, expected to resume after a platform upgrade on January 28th. This move sparked questions from the community, as Mudrex is one of the few exchanges in India that allows cryptocurrency withdrawals. Mudrex explained that the suspension is for platform compliance upgrades to prevent abuse by malicious actors, emphasizing user fund security and noting that fiat withdrawals and deposits remain unaffected.
Ace Hot Topic Analysis
Analysis
Indian crypto exchange Mudrex recently suspended cryptocurrency withdrawals, which are expected to resume on January 28th. The official explanation stated that this was done to carry out platform upgrades, strengthen compliance measures, and prevent misuse by malicious actors. Mudrex co-founder and CEO Edul Patel said that in order to ensure the safety of cryptocurrencies and prevent them from being used in illegal activities, the platform needs to undergo compliance upgrades and ensure the infrastructure is robust. It is worth noting that Mudrex is one of the few exchanges in India that allows cryptocurrency withdrawals, and this move has raised questions from the community. Another Indian crypto exchange, CoinDCX, also launched a cryptocurrency withdrawal feature for users in January, but users who choose to withdraw will be permanently disabled from making INR deposits. Currently, Mudrex's INR fiat withdrawal feature is unaffected, user funds are safe, and cryptocurrency and INR deposit services are also operating normally.
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 misuse by bad actors.
The pause is temporary and is expected to resume normal service after the compliance upgrade is completed on January 28.
Mudrex is one of the few exchanges in India that allows cryptocurrency withdrawals, and this move has sparked questions from the community.
User funds are safe, INR fiat withdrawals are not affected, and cryptocurrency and INR deposit services are still running normally.