For over two years, thousands of Indian investors suffered uncertainty and frustration as BitBNS, a major cryptocurrency exchange, froze withdrawals and prevented customers from accessing their funds. But in a long-awaited development, the exchange has now announced the successful processing of 541 withdrawals between December 19 and 24, 2024, signaling the first tangible progress in addressing user concerns.
The announcement of processed withdrawals offers a glimmer of hope for the thousands of affected investors, but it raises more questions than it answers.
With 541 withdrawals processed in six days, the exchange is yet to clarify the total number of outstanding withdrawal requests or provide a clear timeline for resolving the backlog. For a platform that once had over 4 million users, current advances represent only a fraction of overall demand.
While the recent…
