TechFlow News, May 18: According to an official announcement, Websea officially resumed withdrawals at 16:00 (UTC+8) on May 18, marking the platform’s entry into a substantive and comprehensive recovery phase. This withdrawal resumption is proceeding steadily with support from strategic investors. Earlier reports indicated that the platform has reached a strategic cooperation intent with a Middle Eastern family fund to fully support its long-term operations and development.
Meanwhile, the platform will advance the construction of its Proof of Reserves (PoR) process and plans to conduct regular disclosures. By combining on-chain verification with third-party audits, the platform aims to enhance the transparency and verifiability of its assets. Currently, Websea has publicly disclosed its reserve addresses and hot wallet addresses for user inquiry and oversight.
Herbert R. Sim, Websea’s CMO, stated that the resumption of withdrawals represents a critical milestone in the full restoration of operational order. Going forward, the platform will progressively expand withdrawals toward full and unrestricted availability, based on business recovery progress and market conditions, while continuously refining its risk control and asset protection systems to propel the platform into a more stable growth phase.
