India's largest cryptocurrency exchange WazirX is facing heat on social media as its users could not place fresh bets due to a payment snag. For the last two-three days, multiple users have taken to social media to complain about their deposit service.
WazirX in response said that the delay in accepting funds was due to a network issue at its banking partner's end. It added that the money that was debited from traders' accounts would be credited back ASAP and the funds were safe.
This is not a new issue for users even last week, many users had posted complaints on social media about transaction delays, payment failures and their money getting stuck. To which the company had said its servers were being overwhelmed by traffic caused by the massive demand for Dogecoin. In the past 10 days, the crypto world has seen a sharp surge in demand for Dogecoin and Ethereum.
An upsurge in traffic could also be the potential reason for the glitch. WazirX added one million users during April and is eying to onboard 10 million customers on its platform by the end of the ongoing quarter.