Indian crypto exchange Mudrex suspends withdrawals until the end of January for platform upgrades, sparking community doubts

Indian cryptocurrency exchange Mudrex has temporarily stopped cryptocurrency withdrawals, sparking strong opposition from the community. The exchange said that this is a temporary move, which will last until January 28, and is aimed at upgrading the platform's compliance framework to prevent abuse by bad actors. When asked whether it was necessary to suspend operations for compliance upgrades, Mudrex co-founder and CEO Edul Patel said: "You need to do this for something as important as crypto. If the infrastructure is not correct, it can be easily abused for nefarious activities. As a responsible platform, we need to ensure that our systems are in place and that we are always improving our services." It is worth noting that 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 cryptocurrency withdrawals will have to permanently disable the Indian rupee deposit feature, but rupee withdrawals will continue to be available. (Cointelegraph)