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WOO X
1 months agoNews Editor

WOO X Withdrawal Issues Flagged by ZachXBT; Users Report Pending Status

On September 6, on-chain sleuth ZachXBT issued a community alert about WOO X withdrawal issues. Multiple verified users reported withdrawals stuck in 'pending' or 'processing' for three days. WOO X, incubated by Kronos Research and acquired by FusionX Digital in Q4 2025, hasn't responded. ZachXBT noted FusionX Digital's alleged ties to BitMart founder Sheldon Xia. BitMart ceased operations on July 26, 2026, leaving millions in user funds inaccessible, with complaints mounting on X. Sheldon Xia issued only a vague statement claiming funds are safe, but it remains unverified.

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WOO X Withdrawal Issues Flagged by ZachXBT; Users Report Pending Status
ASIC
2 months agoNews Editor

ASIC Shuts Down Yepbit Websites, Warns Users Not to Trade

The Australian Securities and Investments Commission (ASIC) has closed multiple websites operated by digital asset platform Yepbit, and has issued a warning to users not to trade with the platform. The regulator said it had received reports from a number of investors who found themselves unable to withdraw funds from the platform. Yepbit has claimed that it provides digital asset and futures trading services on a global scale, with those services also being offered to Australian investors. ASIC, for its part, has said that Yepbit made up a claim that 'ASIC froze funds' in order to put off investor requests for refunds. The platform does not hold a financial services licence in Australia, and it is not registered with AUSTRAC as a virtual asset service provider. ASIC has reminded investors that they should verify whether a platform holds the appropriate licence before using it, and that any investment opportunity which cannot be verified should be approached with extreme caution.

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ASIC Shuts Down Yepbit Websites, Warns Users Not to Trade
BitMart
2 months agoNews Editor

BitMart Founder Says No Exit Scam, Asset Checks and Orderly Wind-Down Underway

After BitMart was shut down and users reported they could not withdraw funds, founder Sheldon took to X to address the backlash. He denied that the exchange had run off, telling users not to believe rumors, including screenshots and claims attributed to former or current employees. Sheldon said the core team is still conducting asset inventory, asset collection, and system maintenance, with orderly liquidation as its goal. He also denied any misuse of assets or early moves to withdraw funds, and said the team has considered involving courts and a third-party auditor to publish a transparent report.

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BitMart Founder Says No Exit Scam, Asset Checks and Orderly Wind-Down Underway
AscendEX
4 months agoNews Editor

AscendEX Withdrawal Issues Signal Liquidity Crisis Amid Struggles of Small Exchanges

AscendEX (formerly Bitmax) has been reported to experience massive withdrawal anomalies, with user withdrawals stuck in "Initiating" status without on-chain hashes, suggesting potential liquidity depletion. The platform suffered a $78 million hack by Lazarus group in 2021 and has long lacked proof of reserves and third-party audits. This incident highlights the existential challenges faced by small and mid-sized crypto exchanges under tightening regulation and market concentration.

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AscendEX Withdrawal Issues Signal Liquidity Crisis Amid Struggles of Small Exchanges
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