Kucoin AscendEX Faces Liquidity Crisis Amid Withdrawal Delays
Article Content
- •AscendEX has delayed user withdrawals for several days to weeks while still accepting deposits.
- •ZachXBT identified a liquidity crisis due to a lack of major tokens in AscendEX's hot wallets.
- •Users are advised to report withdrawal issues to law enforcement as the platform remains unresponsive.
AscendEX, a centralized cryptocurrency exchange, is experiencing significant withdrawal delays, with users reporting unprocessed requests for several days to weeks. On-chain investigator ZachXBT raised concerns about the platform's liquidity, noting a severe shortage of major tokens like ETH, USDT, and SOL in its hot wallets. Despite these issues, AscendEX continues to accept user deposits. The platform's inactivity on social media and lack of communication from co-founder George (Jing) Cao has left many users frustrated and unable to access their funds. ZachXBT has advised affected users to report the situation to law enforcement and regulatory agencies. AscendEX, founded in 2018, previously suffered a cyberattack by the Lazarus Group in December 2021, resulting in significant asset losses.
Ask AI about this cluster
Answers cite the sources they use
Timeline
More articles in this cluster (14)
Following this threat?
Track Lazarus Group and AscendEX in your own feed — you're alerted when they show up in new reporting, leak sites or exploitation.
Free account · no card needed
Continue Reading
Bitget Suffers $351.6 Million Hack Linked to North Korean Attackers On September 24, 2026, cryptocurrency exchange Bitget reported unauthorized transfers totaling approximately $351.6 million from its hot and warm wallets, attributed to suspected North Korean hackers. The breach was detected at 18:31 UTC and involved the compromise of a critical backend system, allowing attackers to… 
Bitget Suffers $388M Hack Attributed to North Korean Lazarus Group On September 24, 2026, Bitget reported a significant security breach resulting in the theft of approximately $388 million from its hot and warm wallets. The attackers exploited a vulnerability in a third-party security product to gain internal access credentials and issued fraudulent withdrawal commands. Bitget's cold…