ZachXBT Sounds Alarm Over AscendEX as Users Struggle to Withdraw Funds
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Centralized exchange AscendEX stopped operating on July 1 after the EU MiCA transition period ended, effectively exiting the market. Researcher ZachXBT warned of serious liquidity shortfalls that would prevent customer withdrawals, highlighting CEX liquidity and security risks for crypto users and potential contagion to DeFi and trading markets.
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AscendEX said it stopped operating on July 1 after the MiCA transition period ended.
Following its exit, ZachXBT warned the public about the platform’s liquidity, alleging that it wouldn’t be able to process customer withdrawals.
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