ZachXBT: AscendEX Withdrawal Delays Raise Concerns Over On-Chain Reserves and Liquidity Stress
ZachXBT issued a community alert on X, warning that the centralized exchange AscendEX (formerly Bitmax) has recently been reported to experience delays in processing user withdrawals—some withdrawal requests may take several days or even weeks. ZachXBT noted that ETH, USDT, SOL, and other major high-market-cap assets are held in relatively low amounts within known hot wallets flagged by Arkham and TRM, potentially indicating liquidity pressure facing the platform.
