Websea has again come under scrutiny after multiple community users said withdrawals had been paused or were not arriving starting Sept. 25. In replies to user questions, a moderator in Websea’s official community said withdrawals were under maintenance for 「technical reasons」 and that an announcement would be issued as soon as service resumes. As of Sept. 29, users were still reporting withdrawal problems, and Websea had not published a formal public statement on the latest disruption.
The renewed complaints follow an earlier episode this year. In April, Websea restricted withdrawals for reasons including asset verification and later restored them in stages. On Aug. 28, the platform said it had removed round-based withdrawal limits and that withdrawals had returned to normal.
Websea’s proof-of-reserves snapshot dated Sept. 15 showed reserve ratios of 117% for USDT, 105% for BTC, and 118% for ETH. At the same time, balances in some previously disclosed wallet addresses have fallen noticeably from that snapshot. Still, because reserves involve many addresses, multiple blockchains, and third-party custody, the available information is not enough at this stage to determine the platform’s overall reserve condition.
Multiple community users have reported that Websea has again run into withdrawal problems, with withdrawals either paused or failing to arrive starting Sept. 25.
In responses to user inquiries, a moderator in Websea’s official community said withdrawals were under maintenance for 「technical reasons」 and that the platform would issue an announcement as soon as service is restored.
As of Sept. 29, users were still saying they could not withdraw funds. Websea had not released a formal public statement on the latest withdrawal disruption.
Earlier withdrawal restrictions this year
Websea had previously restricted withdrawals in April for reasons including asset verification, then restored the service in stages. On Aug. 28, the platform announced that it had removed round-based withdrawal limits and that withdrawals had returned to normal.
What the Sept. 15 proof of reserves showed
Websea’s proof of reserves dated Sept. 15 showed reserve ratios of 117% for USDT, 105% for BTC, and 118% for ETH.
Some wallet addresses that had been disclosed earlier now show balances noticeably lower than in that snapshot. Even so, because reserves involve a large number of addresses, multiple blockchains, and third-party custody, the currently available information is not sufficient to determine Websea’s overall reserve position.
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