ZachXBT: AscendEX Has Almost No Liquid Assets to Cover User Withdrawals

Odaily Odaily reports that on-chain detective ZachXBT has released verification information stating that crypto exchange AscendEX has officially announced the cessation of operations. The platform's current liquid assets are almost insufficient to meet user withdrawal demands. In its announcement, the platform stated that the shutdown is mainly due to market conditions and the EU's MiCA regulatory policies. Starting July 1st, all services including account opening, trading, and deposits will be fully closed, leaving only basic functions such as account inquiry and withdrawals available. After July 6th, all withdrawal channels will cease automatic processing and switch entirely to manual review. The company has officially acknowledged that withdrawals may face significant delays or may even be impossible to process.

ZachXBT's verification found that user claims pending payment amount to millions of dollars, but the platform’s hot wallet liquidity is severely insufficient. AscendEX is currently assessing its own financial situation and user asset disposal plans, with subsequent arrangements to be announced separately.