On-chain detective ZachXBT issued a community alert stating that over the past three days, multiple verified WOO X users reported that their withdrawals were stuck in pending or processing status, with some orders being canceled; as of the time of their post, the platform had not released a statement regarding the withdrawal issues.

WOO X was incubated by market maker Kronos Research and was acquired by FusionX Digital in Q4 2025. The alert publicly associates the acquirer with BitMart founder Sheldon Xia and places the current withdrawal issues on the same timeline as the withdrawal history of another platform.

BitMart announced on July 26, 2026, that it would cease operations and restructure, with users still unable to access millions of dollars in frozen funds, and related complaints continue to rise. Sheldon Xia had previously made statements regarding user asset safety, which have yet to be independently verified.

The status described by users corresponds to the platform's own classification: pending review means manual re-examination, while processing means reviewed and awaiting broadcasting on-chain. A prolonged processing status without a transaction hash indicates that funds remain in the custody ledger and have not yet entered public chain confirmation.

The alert calls for verification of identification and order screenshots before observing the speed of withdrawals after the change of control, rather than waiting for an official announcement. The withdrawal issues became concentrated less than a year after the acquisition was completed and about six weeks after the BitMart restructuring announcement.

Mechanically, when users redeem their balance on the platform, the platform controls the withdrawal switch. The incident is driven by investigators naming verified user feedback, with funds temporarily stuck in a custody account. The beneficiaries are those who can still trade within the platform without causing a run, while the pressured parties are the spot holders wanting to withdraw and the platform's credibility tied to BitMart's unpaid narrative.

Public information does not provide the number of stuck orders, total amount of stuck orders, involved currencies and networks, nor does it show whether these withdrawals have generated on-chain transaction hashes.

Source: Public Information