Press "Enter" to skip to content

Looks like Koinex’s Instant INR Withdrawal Problem is Not the only Withdrawal Problem

After a complete stop on Instant withdrawal, Koinex re-introduced them at the original fee of Rs. 30/- per transaction with a limit of 50000. Coindelta and WazirX reduced their instant withdrawal fees to Rs. 30/- as well. All three exchanges use the same service but haven’t disclosed it as reported earlier.

Looks like Koinex has been running into problems with their instant withdrawals and a swarm of users keep venting out the anger on Twitter.

It appears now that many users are Facing Issues with XRP and XLM withdrawals as well

A trader told Coin Crunch India that 3 of his XRP withdrawal did not process correctly and he had to raise a ticket to get it resolved. Most of the time these issues happen when the Ripple network drops a transaction and then it takes hours before it is tried again. To which the trader argued he never had such an issue with any other exchange.

A few more XLM withdrawal complains have been raised as well. However, the most bizarre complain I read today was about an open order that did not get fulfilled and the money was reversed to the INR wallet. In a way it is not a loss, but the trader could not buy XLM at the price he had hoped for.

On a chat with Koinex CTO Rakesh Yadav said they are working on the XRP issue in addition to

“We are facing an issue from the XRP network side”

Well, Koinex, buckle up, you have a reputation to keep.

Have you faced any issues with Koinex? Let us know in the comments below

Comments are closed.

Latest Posts
Send this to a friend