Indian Crypto Exchange Mudrex Halts Withdrawals
Indian cryptocurrency exchange Mudrex has temporarily halted crypto withdrawals, sparking a wave of backlash from the crypto community.
On January 11, Mudrex abruptly paused crypto withdrawals on its platform, leaving users confused and concerned.
The company clarified to Cointelegraph that the suspension is a temporary measure, scheduled to end on January 28. This move is intended to facilitate an upgrade of the platform’s compliance framework, aimed at preventing misuse by bad actors.
Addressing the need to pause operations for a compliance upgrade, Edul Patel, co-founder and CEO of Mudrex, stated: “You need to do that with something as critical as crypto.
If the infrastructure is not correct, it is very easy for it to be misused for nefarious activities. As a responsible platform, we need to ensure that our systems are in place and we are continuously improving the services we offer.”
