ZachXBT: Suggests AscendEX Users with Frozen Funds to Report to Local Regulators

CoinFeed, July 2 news: On-chain detective ZachXBT stated in a post that crypto exchange AscendEX has not posted any content on X platform for 9 days. User withdrawals are still unprocessed while deposit function is normal. A major victim reported the issue to AscendEX co-founder George Cao but received no response. Users with frozen funds are advised to submit reports to their national law enforcement and regulatory agencies. Earlier on June 26, ZachXBT revealed that AscendEX is suspected of facing liquidity issues, with user withdrawals delayed for days to weeks.