Why Bitbns is facing INR withdrawals delay issue?

livemint.com:

No matter what, every investor hopes to receive his or her money from their investment pools in a timebound manner. The quicker the better! However, this is not the case for investors at cryptocurrency exchange Bitbns whose withdrawals have taken a hit. Users have taken the issue on Twitter, complaining about how the withdrawals from their Bitbns accounts are time-consuming. Some investors haven't even received their withdrawals in INR for the past two months. Bitbns released a statement explaining the difficulty in releasing the withdrawals. The exchange cited a cyber crime case that led to police officers blocking their entire account. Notably, Bitbns has been struggling with the issue of INR withdrawals for quite some time now.

Bitbns through its Twitter account has released an official statement on wrt bank withdrawals on the exchange. It said, "We would suggest staying away from unnecessary FUD during such hard times. It harms the general sentiment around crypto across the board."

In the statement, Bitbns said, banking has been tough crypto exchanges in India since day 1.

Bitbns explained that payment processors do not support crypto. The only solution for crypto companies remains is to accept funds in bank accounts.