News linked to both this project and an event.
According to CoinDesk, India's Financial Intelligence Unit (FIU-IND) issued non-compliance notices to 15 small and medium-sized offshore cryptocurrency platforms—including Weex, Blofin, Rezorex, Bitunix, DigiFinex, Toobit, XT.com, Latoken, WOO X, Pionex, ChangeNow, SimpleSwap, Fixedfloat, WhiteBIT, and Guardarian—pursuant to Section 13 of the Anti-Money Laundering Act, alleging that these platforms violated regulations by serving Indian users without registering with FIU-IND. Since March 2023, India has brought cryptocurrency platforms under an anti-money laundering regulatory framework equivalent to that of traditional banks, mandating that all platforms serving Indian users, regardless of whether they maintain domestic offices, complete registration and fulfill obligations including customer identity verification and suspicious transaction reporting. In light of this enforcement, reports indicate that some Indian users are circumventing regulations by transferring USDT to overseas platforms to purchase gift cards. FIU-IND also cautioned the public that cryptocurrency products and NFTs remain unregulated and carry high risks, and that affected users may not be able to obtain regulatory recourse for any resulting losses.
WOO X issued a statement addressing recent feedback on withdrawal processing, confirming that it is aware of reports regarding withdrawal processing times and is currently reviewing relevant cases and system status. Some withdrawal requests may still be pending review or undergoing on-chain processing, with the team working to resolve them as quickly as possible. WOO X advises that if withdrawal delays occur, users should submit relevant information—including UID, withdrawal order ID, request timestamp, asset, network, and status screenshots—through official customer support channels. Users are also reminded not to trust unofficial sources and never share passwords, seed phrases, private keys, or verification codes. WOO X further stated that it reserves the right to take legal action against fabricated, distorted, or maliciously circulated false information that damages the reputation of users or the platform, and urges all users to rely solely on official announcements and verified support channels for accurate information.