PANews June 26 report, ZachXBT posted a community alert on X platform, stating that multiple users have reported that centralized exchange AscendEX (formerly Bitmax) is experiencing withdrawal delays ranging from several days to weeks, and even 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 tokens such as ETH, USDT, and SOL, and it may face liquidity issues. AscendEX was founded by George Cao and Ariel Ling in 2018, and suffered a hack by the Lazarus Group in December 2021 with a loss of approximately $78 million.