CoinWorld News, on-chain analyst zachxbt pointed out that AscendEX is delaying user withdrawals for days or weeks, or leaving them unprocessed. By checking known hot wallets on Arkham and TRM, AscendEX's reserves lack large-cap tokens such as ETH, USDT, USDC, and SOL. AscendEX was co-founded by George Cao and Ariel Ling in 2018 and was hacked by the Lazarus Group in December 2021, resulting in the theft of $78 million. The addresses of AscendEX's EVM hot wallet, TRON hot wallet, and Solana hot wallet have all been monitored.

ETH-5.45%
USDC-0.01%
SOL-0.25%
TRX-2.20%
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RedTelephoneBoothRuins
· 33m ago
George Cao and Ariel Ling spent six years messing around and it turned out like this—delays stretching from days to weeks. The collapse of trust in the exchange’s “last mile” is the most fatal blow.
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SunshineCollector
· 2h ago
Haven’t they learned their lesson after Lazarus stole 78 million in 2021? Now all hot wallets are being monitored—users, hurry and get out!
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Half-UnderstoodZk
· 2h ago
It's the same old story of delayed withdrawals, and the reserves are still short of mainstream coins. This signal is all too familiar.
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