The thing now is, even if they allow withdrawals on January 28, it might spark a "bank run" which could lead to a complete collapse of the exchange. I say so because people are already pensive and worried about their money, and if they are able to withdraw it, they might want to move it to another platform, and if it happens in numbers, we know the outcome.
Bankrun is terrible with any company and in 2022, there were bankruns with Terra, FTX exchange, and some traditional banks in the USA and in European countries too.
It is really hard to be unaffected by a bankrun, if your company does not have safe treasury management including customer money deposited to your platform. If you have bad capital and treasury management, risk is high enough to trigger a collapse by a bankrun from customers.
If they actually reopen withdrawals, a bankrun will happen and any person has money there, must be very hurry with withdrawal request, and pray that they will luckily be approved for withdrawal.