Indian Trading Platform Mudrex Suspends Withdrawals

Indian cryptocurrency exchange Mudrex has temporarily halted crypto withdrawals as it continues to upgrade its compliance suite.

The company anticipates completing this upgrade by January 28th, at which point crypto withdrawals will resume.

Alankar Saxena, Founder and Chief Trading Officer at Mudrex, announced the temporary cessation of digital asset withdrawals via an X post on January 12th.

Saxena explained that this measure is a crucial part of the ongoing compliance upgrade. While crypto withdrawals are currently suspended, the platform continues to allow INR withdrawals.

Mudrex has stated that the withdrawal suspension will remain in effect until the full compliance suite upgrade is finalized, projected to be completed by January 28th. The company emphasizes that this upgrade is essential to prevent misuse by “bad actors.”