AscendEX withdrawal complaints mount as ZachXBT questions reserves

Multiple users reported delayed AscendEX withdrawals after ZachXBT flagged potential liquidity issues and urged the exchange to explain its reserves.

Multiple users have reported issues withdrawing funds from cryptocurrency exchange AscendEX, which blockchain investigator ZachXBT said may be showing signs of liquidity issues.

An X account using the name Lorenzo Navarro Rodriguez said in a Tuesday post that a 4,196 USDT withdrawal had remained stuck in an “initiating” state since June 10. The account also said repeated customer support inquiries had gone unanswered.

At least five other users replied to the post over the following days, reporting similar withdrawal issues.

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