PANews reported on January 13 that Alankar Saxena, co-founder of Indian cryptocurrency exchange Mudrex, issued a statement saying that the platform has temporarily suspended cryptocurrency withdrawals and is expected to resume normal services after completing compliance upgrades on January 28. The suspension is aimed at strengthening compliance measures to prevent bad actors from exploiting the platform. The statement clearly stated that INR fiat currency withdrawals were not affected, user funds were completely safe, and cryptocurrency and INR top-up services were still operating normally.