The complaints surfaced across X over the past several days and were amplified Sunday by blockchain investigator ZachXBT, who said multiple verified WOO X users had contacted him about the problem. Some users also reported that withdrawal attempts had been canceled rather than completed. The individual complaints and the status of the affected accounts have not been independently verified. ([ChainCatcher][1])
One customer said they had been Level 2 verified on WOO X for five years but had a withdrawal pending for three days. Another said a transfer to a self-custody wallet had remained in “submitted” status for more than six hours. Other users described withdrawals remaining in submitted mode, while one customer said repeated attempts to withdraw USDC over several days had been canceled by the platform.
The reports do not establish that WOO X has suspended withdrawals generally, and it remains unclear how many customers are affected, which assets or networks are involved, or the total value of funds awaiting processing.
At the time of writing, no announcement addressing a wider withdrawal problem was visible on WOO X’s public news page or its support section for deposit and withdrawal notices. The support page lists previous asset- and network-specific suspensions, including earlier interruptions involving Filecoin, Polygon, BSC, Base and Optimism, but no newly published notice explaining the current cluster of user reports was visible. ([WOO X][2])
The complaints are attracting additional scrutiny because of changes in WOO X’s ownership last year and the subsequent problems at BitMart.
In October 2025, WOO announced that Web3 private-equity firm FusionX Digital would acquire WOO X and become the centralized exchange’s new operator. The company said at the time that customer accounts, assets, trading and support would remain uninterrupted during a transition expected to take place gradually over six months. ([WOO X][3])
The acquisition announcement also named BitMart founder Sheldon Xia as a member of a newly established Global Strategy Committee for WOO X. Xia was expected to advise on areas including international expansion, regulatory alignment and the trading experience. Odaily separately reported the same committee appointment when the FusionX transaction was announced. ([WOO X][3])
That documented relationship does not by itself establish that Xia owns or controls FusionX Digital, but it provides a direct public connection between the BitMart founder and WOO X following the change in operator.
That connection has become more sensitive following BitMart’s decision this summer to wind down its trading platform.
On July 26, BitMart announced an “orderly cessation” of operations, beginning with the suspension of new registrations, deposits and new trading activity. The exchange said trading services would stop on Aug. 26 and initially planned to formally terminate platform operations on Jan. 31, 2027. Withdrawals were to remain available during the wind-down. ([BitMart][4])
The situation later shifted. On Aug. 21, BitMart said it was developing a potential restructuring plan as an alternative to a complete wind-down. The proposal could involve restarting some operations in phases while making distributions to creditors, subject to legal, financial, regulatory and operational assessments. BitMart appointed White & Case as restructuring counsel and said another update was expected no later than Sept. 9. ([BitMart][5])
Meanwhile, BitMart customers have continued posting complaints on social media alleging that they cannot access funds. ZachXBT said millions of dollars belonging to users remain stuck and pointed to growing complaints on X. Those figures and individual claims have not been independently confirmed.
The overlap has fueled concern among WOO X users, but there is currently no public evidence showing that the withdrawal delays at WOO X are financially connected to BitMart’s restructuring or that WOO X is experiencing a solvency problem.
For now, the identifiable development is narrower: several WOO X customers are publicly reporting unusually long withdrawal processing times, while the exchange has yet to publicly explain whether the complaints reflect isolated account reviews, a technical issue or a broader operational problem.