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AscendEx Ceases Operations as of July 1, Holds $13.5M in Assets Amid Withdrawal Concerns

GateNews
Exchange RiskRegulation & PolicyDaily Crypto News

According to Odaily, cryptocurrency exchange AscendEx announced on July 6 that it ceased operations as of July 1, citing failure to obtain an EU MiCA license and a failed strategic transaction. Chain data shows AscendEx's marked addresses currently hold approximately $13.5 million in crypto assets, with over $12 million in UNITE tokens and its native ASD token.

On-chain investigator ZachXBT warned on July 2 that withdrawal requests remain unprocessed while deposit functions continue to operate. The investigator recommended users report the situation to relevant authorities in their respective countries, per Protos.

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