Uphold, a crypto exchange linked to Ripple through a liquidity partnership, experienced a series of withdrawal delays beginning around November 4. The company attributed the problem to a service disruption at an unnamed third‑party transaction monitoring partner, noting that the issue also affected other firms in the industry.
According to Uphold’s status page, the disruption started on November 4 and was largely resolved by the following day. On November 5, the exchange reported that roughly 80% of crypto deposits and withdrawals were processing. By November 9, Uphold cited an increase in transactions requiring review but reassured users that funds remained safe.
Customer complaints about withdrawal times ranging from a few hours to four days were logged on outage tracker StatusGator as recently as November 9. Within the last 20 hours, Uphold acknowledged that some withdrawals were still delayed, though a later update from the company’s chief product officer indicated that the majority of transactions had cleared and massive delays were not expected to continue.
Social media posts referenced a possible “bank run,” but the exchange has not confirmed such a scenario. The timing of the outage coincided with a separate address‑screening shutdown announced by Chainalysis on November 4, though there is no confirmation that Chainalysis was the monitoring partner involved.
Uphold’s recent operational history includes a pause on deposits for European customers in July while completing MiCAR licensing, a workforce reduction of about 17%, and the planned exit from Brazil with a November 30 withdrawal deadline for Brazilian users. The exchange has also faced legal settlements, including a $5 million settlement with New York’s Attorney General over misleading investor statements and a federal class‑action settlement approved in October 2024 related to unauthorized account access.
