AscendEX users face withdrawal delays amid liquidity fears

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Why are AscendEX investors unable to withdraw their funds for more than 3.5 days?

What risks do analysts and experts warn about regarding AscendEX’s current situation?

Is there any possibility that AscendEX will shut down or go bankrupt due to these liquidity issues?

AscendEX users face withdrawal delays amid liquidity fears — Image source: Unblock Media

Customers report extended pending withdrawals and absent transaction confirmations on AscendEX.
Blockchain data reveals severe asset shortages in exchange hot wallets, raising market alarm.

On June 26, 2026 (UTC), ZachXBT reported via CoinDesk that Singapore-based cryptocurrency exchange AscendEX faces mounting user complaints about lengthy or incomplete asset withdrawals. Since mid-June, customers have seen their withdrawal requests stall with “initiating” or pending status that persists for days or weeks. Throughout this time, users noticed funds missing from available balances, but no blockchain transaction hashes appeared, making verification impossible. Multiple investigative and user accounts confirm that customer support tickets remain unresolved, and AscendEX has not issued a public statement about these ongoing problems.

ZachXBT reviewed AscendEX’s publicly labeled hot wallets through Arkham and TRM platforms, noting they lacked substantial assets such as Ethereum (ETH), Tether USDt (USDT), or Solana (SOL). Though exchanges often keep most funds in cold storage for security, the near-empty hot wallets, along with persistent withdrawal issues, suggest serious liquidity challenges. This scenario has prompted market-wide warnings urging users to avoid depositing assets on AscendEX.

Scammers have taken advantage of affected users by offering fraudulent “recovery” services that require upfront payments. These schemes have heightened risk for customers already struggling to access their funds. Previous incidents emphasize AscendEX’s vulnerabilities, including a significant hack in 2021 and trading suspensions in May 2026 tied to abnormal token activity.

As of June 26, 2026, 15:09 UTC, Ethereum (ETH) trades at $1,562.67 with a 0.16% rise in 24-hour volume. Tether USDt (USDT) trades at $0.999, up 0.02%. Solana (SOL) trades at $70.42, marking a 6.78% increase. PAX Gold (PAXG) trades at $4,070.44, registering a 1.52% gain.