AscendEX Collapse: MiCA Deadline, Failed Financing, and Empty Hot Wallets
AscendEX ceased operations on July 1, 2026, citing MiCA non-compliance and a collapsed financing deal, with user fund recovery far from guaranteed.
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On-chain investigator ZachXBT had publicly flagged AscendEX's nearly empty hot wallets for ETH, USDT and SOL after weeks of user withdrawal complaints preceding the July 1 cessation.
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