PANews June 26, ZachXBT posted a community alert on the X platform, saying that centralized exchange AscendEX (formerly Bitmax) has been reported by multiple users to have withdrawal delays ranging from several days to several weeks, or even to be unable to process withdrawals. After checking the exchange’s known hot wallets via Arkham and TRM, ZachXBT found that its reserves lack major large-cap mainstream tokens such as ETH, USDT, and SOL, suggesting it may face liquidity issues. AscendEX was founded in 2018 by George Cao and Ariel Ling. In December 2021, it was attacked by the Lazarus Group, resulting in losses of roughly $78 million.