AscendEX

4 months agoNews Editor

AscendEX Withdrawal Glitch Triggers Liquidity Panic, Highlighting Struggles of Smaller Exchanges

Cryptocurrency exchange AscendEX (formerly Bitmax) faces a major withdrawal crisis, with user funds stuck in 'Initiating' status and no on-chain confirmations, sparking fears of liquidity insolvency. The platform suffered a $78 million hack by the Lazarus syndicate in 2021 and has since lacked proof-of-reserves and third-party audits. The incident underscores the existential challenges faced by mid-to-small exchanges amid tighter regulation and market consolidation.

2400

AscendEX

4 months agoNews Editor

AscendEX Withdrawal Anomaly Reveals Liquidity Crisis, Intensifying Survival Challenges for Small- to Mid-Sized Exchanges

AscendEX (formerly Bitmax) has been hit by a widespread withdrawal anomaly, with users' funds stuck in 'Initiating' status for hours without on-chain confirmation, signaling potential liquidity depletion. The platform previously lost $78 million in a 2021 Lazarus Group hack and has since failed to provide Proof of Reserves or undergo third-party audits, raising transparency concerns. The incident highlights the growing existential struggles of smaller crypto exchanges amid tightening regulations and industry consolidation.

2320

AscendEX

4 months agoNews Editor

AscendEX Withdrawal Anomaly Reflects Survival Crisis for Mid-Small Exchanges: Hack History, Lack of Reserves

AscendEX (formerly Bitmax) has been reported to experience large-scale withdrawal failures, with user funds stuck in 'Initiating' status and no on-chain transaction hashes, indicating potential liquidity depletion. The exchange was hacked by the Lazarus group in 2021, losing $78 million, and has long lacked Proof of Reserves and third-party audits. This incident highlights the existential challenges faced by small and medium crypto exchanges under tightening regulation and market centralization.

2200

AscendEX

4 months agoNews Editor

AscendEX Withdrawal Anomaly: Liquidity Crisis Exposes the Plight of Mid-Tier Exchanges

AscendEX（原Bitmax）近期被曝大规模提现异常，用户资金长时间处于“发件中”状态且无链上哈希，疑似流动性枯竭。平台曾于2021年遭Lazarus黑客攻击损失7800万美元，且长期缺乏储备证明与第三方审计，透明度低。这一事件折射出在监管趋严和行业集中化背景下，中小加密交易所面临的普遍生存危机。

2100

AscendEX

4 months agoNews Editor

AscendEX Withdrawal Issues Expose Liquidity Crisis and Transparency Problems at Mid-Tier Exchanges

AscendEX has recently experienced abnormal withdrawals, with users unable to retrieve funds, likely due to liquidity issues. The exchange has not provided a proof of reserves, raising concerns about its financial health. This incident highlights the survival difficulties of medium and small exchanges in a market dominated by major players, emphasizing the need for users to prioritize transparency and risk management when choosing platforms.

770

AscendEX

4 months agoNews Editor

AscendEX Withdrawal Anomaly Hints at Liquidity Crisis, Exposing Plight of Small Exchanges

AscendEX（原Bitmax）近期出现大规模提现异常，用户资金长时间卡在'Initiating'状态且无链上哈希，疑似流动性枯竭。该平台曾于2021年遭Lazarus黑客攻击损失7800万美元，长期缺乏储备证明与第三方审计，透明度低。事件折射出中小加密交易所在监管趋严、行业集中化背景下的普遍生存困境。

2250

AscendEX

4 months agoNews Editor

AscendEX Withdrawal Anomaly: Liquidity Crisis and Survival Struggles of Small Exchanges

AscendEX (formerly Bitmax) recently experienced large-scale withdrawal anomalies, with user funds stuck in 'Initiating' status and no on-chain hash, suggesting potential liquidity issues. The platform suffered a $78 million loss from a Lazarus hacker attack in 2021 and has long lacked proof of reserves and third-party audits, raising transparency concerns. The incident highlights the survival difficulties faced by small and medium crypto exchanges amid tightening regulations and industry consolidation.

2300

AscendEX

4 months agoNews Editor

AscendEX Withdrawal Anomaly Exposes Liquidity Crisis, Plights of Small Exchanges Intensify

Crypto exchange AscendEX (formerly Bitmax) has recently experienced widespread withdrawal anomalies, with user funds stuck in 'Initiating' status without on-chain hashes, signaling potential liquidity depletion. The platform suffered a $78 million hack by the Lazarus Group in 2021 and has long lacked proof-of-reserves and third-party audits. The incident highlights the existential struggles of small and mid-sized exchanges under tightening regulation and market concentration.

2130

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