CoinDCX restricts crypto withdrawals citing higher compliance requirement

Cryptocurrency exchange CoinDCX had paused its crypto withdrawal facility without prior communication, sparking concerns among users.
The recent liquidity crises at several institutions, including Celsius Network, which paused crypto withdrawals and transfers, has stirred fear among Indian retail, ET reported on June 21.
In this backdrop, CoinDCX’s decision to restrict crypto withdrawals have caused a furore on social media.
“The restriction is an enhanced measure to strengthen our safety protocols and was gradually initiated over the past one month for multiple users,” a spokesperson for CoinDCX said in a statement.