ZachXBT Urges AscendEX Users To File Regulatory Complaints Over Withdrawal Delays

According to on-chain investigator ZachXBT, AscendEX users with funds stuck on the platform should file complaints with law enforcement and financial regulators in their countries. The alert came after the exchange failed to process withdrawals for days or weeks while continuing to accept deposits, according to multiple user reports since late June.

ZachXBT reviewed AscendEX's hot wallets using Arkham and TRM and found them lacking major assets including ETH, USDT, USDC, and SOL. The exchange has neither confirmed nor denied the liquidity concerns. ZachXBT noted that AscendEX had not posted on X for nine days since his initial alert, while requesting clear answers from the company before users deposit further funds.