Users of cryptocurrency exchange WOO X reported delays in processing withdrawals, according to blockchain investigator ZachXBT. Some verified users said their requests had remained “pending” or “processing” for the past three days, ZachXBT said.

WOO X said on Sept. 6 that it was aware of the reports and was reviewing the relevant cases and the status of its systems. The exchange said some requests may still be under review or undergoing on-chain processing, and that its teams were working to resolve them.

ZachXBT points to ownership ties

According to ZachXBT, Kronos Research incubated WOO X before FusionX Digital acquired it in the fourth quarter of 2025. The investigator said available information indicated that FusionX Digital had ties to Sheldon Xia, founder of the BitMart cryptocurrency exchange.

BitMart announced on July 26, 2026, that it would cease operations and undergo restructuring. Users subsequently reported losing access to frozen funds, while the number of complaints posted on X continued to rise.

ZachXBT said Xia had published statements about the safety of users’ assets, but added that independent sources had not confirmed those claims.

WOO X reviews delayed withdrawals

WOO X advised users experiencing delays to contact its official support service. It asked affected users to provide their UID, withdrawal order ID, request creation time, the relevant asset and network, and a screenshot showing the request’s status.

The exchange also warned users not to share passwords, seed phrases, private keys or verification codes with third parties. It urged them to rely only on official WOO X announcements and support channels.

WOO X was previously hit by a $12 million hack in July 2025.

Source: Incrypted