UPDATE: ZachXBT says AscendEX withdrawals still pending after more than a week; deposits continue as exchange plans shutdown
AI Market Summary
Reports that AscendEX withdrawals remain unprocessed while deposits are still accepted, alongside an announced shutdown citing market conditions and MiCA, raise acute counterparty and custody risk concerns. Allegations of insufficient liquid assets in public wallets to meet verified seven-figure withdrawal claims increase the probability of user losses and regulatory scrutiny. The news can weigh on broader crypto risk appetite and centralized exchange trust in the near term.
Impact level
● Medium
Affected assets
BTC/USDT-3.24%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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Blockchain investigator ZachXBT says AscendEX withdrawals remain unprocessed more than a week after he first flagged the issue, even as the platform continues to accept deposits. AscendEX has since said it will cease operations, citing market conditions and the EU's MiCA framework. ZachXBT alleges the exchange's public wallets do not show enough liquid assets to meet multiple seven-figure withdrawal requests that he says he has verified. Users who still have funds trapped on the platform are being urged to contact regulators and law enforcement.
