AscendEX halts withdrawals as wallet data shows shortfalls in ETH, USDT and SOL
Security & Exploits ·
Independent researcher ZachXBT reports that the exchange has delayed user withdrawals while its hot wallets display critical shortages of several major assets, fueling concern about the platform's liquidity position.
According to a post from investigator ZachXBT, AscendEX is delaying user withdrawals at the same time its hot wallets are showing critical shortages of ETH, USDT and SOL, three of the assets most commonly used for exchange liquidity and settlement, according to the original report. The combination of paused withdrawals and depleted wallet balances is being read as a possible signal of a broader liquidity shortfall rather than an isolated operational delay.
The alert lands amid a wider pattern of stablecoin stress across the market. Ukraine's asset-recovery agency ARMA has taken custody of $8.3 million in USDT seized from a hacking ring, marking the country's first state-managed crypto seizure, while in India, an Enforcement Directorate crackdown on stablecoin remittance flows has pushed USDT to an 8.5% premium in local markets. Separate reporting on the same Indian crackdown describes raids on crypto firms as the trigger for that premium, pointing to