On September 6, on-chain investigator ZachXBT reported complaints from users of centralized crypto exchange WOOX about delayed withdrawals: several verified-account holders said their requests remained pending or processing for up to three days. According to him, some requests stayed in processing for as long as three days. The exchange said it was reviewing the reports and individual withdrawal cases.
The exchange team wrote on X that it was aware of complaints about withdrawal processing times and was reviewing the relevant requests and system status, noting that some transactions may have been subject to additional checks or delayed at the on-chain processing stage.
For withdrawal requests that had already been submitted, the platform promised to process them as a priority. If an error was caused by an identity check, users were advised to re-upload the required documents and complete KYC.
Context Around FusionX and BitMart
ZachXBT also drew attention to the platform’s ownership structure and history. According to him, the platform was incubated by Kronos Research, and in Q4 2025 it was acquired by FusionX Digital, which is reportedly connected to BitMart founder Sheldon Xia.
On July 26, BitMart announced that it would cease operations and undergo restructuring, after which users of the platform faced problems accessing their funds.
At the time, Xia published statements saying that user assets were safe, but according to ZachXBT, those statements were not independently verified.