Coinbase users in India have been left waiting for their money as the exchange continues to halt INR withdrawals due to a banking outage that has lasted more than five days. The exchange has yet to share a clear timeline for restoring the service.
Unocoin has suspended all deposits and withdrawals, while ZebPay has warned users of delays in INR withdrawals due to banking issues.
On 14 November, Coinbase India announced on X that INR withdrawals are temporarily unavailable due to an outage at its banking partner. The exchange asked users not to start new INR withdrawals, warning that requests made during the outage could fail or remain pending.
Coinbase also assured users that their funds are safe and said it is working with the bank to restore withdrawals.
This has frustrated users on X, urging Coinbase to change its banking partner, saying they have been unable to withdraw their money for more than five days.
As of now, Coinbase has not provided a clear timeline for when withdrawals will resume.
The timing is important because Coinbase only recently expanded its rupee services in India. The exchange enabled INR deposits and withdrawals through IMPS after registering with India’s Financial Intelligence Unit.
Coinbase is not the only platform dealing with service problems in India, although the causes are different.
Coinbase is not the only exchange facing problems. Unocoin, another well-known Indian cryptocurrency exchange, has stopped all deposits and withdrawals since November 9, 2026. The exchange has not shared when these services will resume.
ZebPay, on the other hand, said INR withdrawals are still working but taking longer than usual. On November 11, the exchange said a technical issue at its banking partner was causing the delays.
These disruptions have left users across multiple Indian crypto platforms facing problems with rupee deposits and withdrawals.
The latest problems also come as India continues to take a strict approach to crypto and banking.
In June, RBI deputy governors said that banks and financial institutions should stay away from crypto-related businesses and should not hold or trade crypto.
It even warned that virtual digital assets could pose risks to an emerging economy like India.
Despite warnings, India allows crypto trading under tax rules, including a 30% tax on gains and 1% TDS, while asking banks to distance themself from crypto-related businesses.
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