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Indian crypto trading platform Mudrex has suspended withdrawals until the end of January for platform upgrades, causing community questions

On January 13, the Indian cryptocurrency exchange Mudrex has suspended withdrawals, triggering a backlash from the community. The exchange said that this is a temporary move, which will last until January 28, to upgrade the platform's compliance framework and prevent abuse by bad actors. One community member, Aakash Athawasya, was sceptical of the platform's intentions, arguing that Mudrex had "never made a cryptocurrency withdrawal in the first place" and accused it of offering "price risk, not ownership". Notably, Mudrex is one of the few cryptocurrency exchanges in India that allows cryptocurrency withdrawals. Another Indian cryptocurrency exchange, CoinDCX, launched a cryptocurrency withdrawal feature for its users in January. However, users who choose to withdraw cryptocurrency will have to permanently disable the Indian rupee deposit feature, but rupee withdrawals can still be used.