AscendEX Ceases Operations on July 1, User Claims Hit Millions as Exchange Lacks Liquid Assets

According to ZachXBT, on July 8, AscendEX confirmed it will cease all operations effective July 1. User claims verified by the on-chain sleuth have reached millions of dollars, but the exchange currently has almost no liquid assets to process withdrawals. AscendEX announced that all withdrawal requests will undergo manual review starting July 6, with automatic withdrawals paused. The platform stated withdrawals may be delayed or unable to be processed due to KYC/AML checks, sanctions screening, account verification, network conditions, and potential bankruptcy or legal proceedings.
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