Crypto exchange WOO X is dealing with a wave of user reports describing stalled withdrawal requests. On September 6, 2026, pseudonymous blockchain investigator ZachXBT posted in his Investigations Telegram channel that several identity-verified users had contacted him over the preceding three days with similar problems.

According to the accounts shared, one Level 2 verified user with a five-year history on the platform reported a withdrawal remaining in pending status for three days. Another described a transfer to a self-custody wallet that stayed in submitted status for more than six hours without receiving a transaction ID. Separate complaints involved USDC withdrawal requests that were cancelled rather than completed.

Exchange Acknowledges Issues and Outlines Next Steps

WOO X issued a public statement the same day acknowledging the reports. The platform said its teams were reviewing individual cases along with overall system status. It noted that some requests might still be under internal review or undergoing on-chain processing and that staff were working to clear them.

The exchange directed affected customers to contact official support with specific details including identification numbers, withdrawal order IDs, request timing, assets, networks, and screenshots. It warned users against sharing passwords, seed phrases, private keys, or verification codes. WOO X also pointed to its proof-of-reserves and liabilities dashboard, which compares on-chain wallet balances with customer liabilities, though the snapshot is not an independent audit.

ZachXBT publicly questioned the platform about changes to an earlier statement that had contained stronger legal language and sought clarification on the exchange’s operational structure. On September 7, WOO X announced a process for users whose withdrawals were paused or failing for KYC-related reasons.

Ownership Links Draw Parallel Attention

The timing of the complaints has focused attention on WOO X’s ownership changes. FusionX Digital assumed operation of the exchange in the fourth quarter of 2025. Reports indicate that Sheldon Xia, founder of BitMart, joined FusionX’s Global Strategy Committee shortly after that transition. Public records do not establish Xia as sole owner of WOO X.

BitMart itself announced an orderly wind-down of its trading platform on July 26, 2026. The exchange later stopped new registrations and deposits and suspended trading services around August 26. It has stated it is exploring a potential restructuring and possible phased resumption of operations, with a roadmap expected by September 9. Users have reported ongoing difficulties accessing funds, with claims of substantial amounts remaining locked; those figures have not been independently confirmed.

No platform-wide suspension of withdrawals has been declared at WOO X, and the exchange has not released figures on the number of delayed requests, the networks involved, or the total value affected. The reported delays remain under review as users wait for further official updates.

This episode follows earlier warnings from the same investigator. In June 2026, ZachXBT flagged AscendEX over stuck withdrawals and limited hot-wallet liquidity; that platform shut down within a week of the alert. Each situation differs, and the current reports on WOO X do not by themselves establish insolvency or loss of customer funds.

Affected users have been advised to retain screenshots and transaction records, monitor official announcements, and avoid third-party recovery services that solicit fees to unlock funds, a common scam pattern during periods of exchange stress.