Svmuu News: ZachXBT posted that multiple reports indicate the centralized exchange AscendEX is delaying user withdrawals by several days or weeks, or failing to process them at all. A review of known hot wallets on Arkham and TRM reveals that its reserves appear to be lacking high-market-cap tokens such as ETH, USDT, USDC, and SOL, suggesting it may be facing liquidity issues.
AscendEX was founded by George Cao and Ariel Ling in 2018 and was reportedly hacked by the Lazarus Group in December 2021, resulting in the theft of $78 million. Its EVM, Tron, and Solana hot wallet addresses are all being monitored.