AscendEX, a centralized cryptocurrency exchange, is reportedly facing liquidity issues, leading to significant delays in user withdrawals. According to a community alert by ZachXBT on the X platform, users have experienced withdrawal delays ranging from several days to weeks, with some unable to process withdrawals at all. ZachXBT's investigation into AscendEX's hot wallets via Arkham and TRM revealed a lack of major large-cap tokens such as ETH, USDT, and SOL, suggesting potential liquidity problems. AscendEX, founded by George Cao and Ariel Ling in 2018, previously suffered a $78 million hack by the Lazarus Group in December 2021.