Delays in INR withdrawals on Bitbns, users flag issues on social media

After several users complained of delays in INR withdrawals from crypto Bitbns, the cryptocurrency exchange on July 14 said in a notification on its website that the payment delays were due to issues from "relevant authorities".

"INR withdrawals are delayed due to some issues from relevant authorities. We are working closely with them to fix it at the earliest. Requesting patience from the community during this hard time,” the company said on its website.

Gaurav Dahake, CEO & Founder, Bitbns said, "INR withdrawals on Bitbns platform are being delayed owing to temporary issues at the end of concerned authorities. Our team is working closely with them to address this at the earliest."

"Bitbns is one of the most resilient and the only exchange in India facilitating seamless deposits and withdrawals on the highest number of listed cryptocurrencies. The withdrawals are getting processed sequentially, as we are working to increase the clearing speed too," he added.

Hi @bitbns team,

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I have summited Withdrawal request on 20 Jun 2022. as per term's you will clear in 15 day's .but 15 day's already gone. still not received my money . @bitbns how many time required for clear this transections ??#bitbns#Cryptocurency#CryptoMarketpic.twitter.com/ghYmSZWJeF — Vinod Kumar (@CHVinodBana) July 13, 2022

This comes days after several users flagged issues with withdrawals on social media. Over the last few months, top cryto exchanges in India have lost nearly 75 percent of their crypto trading volumes.