On-chain investigator ZachXBT has advised users of the cryptocurrency exchange AscendEX, who are experiencing frozen funds, to report the issue to local law enforcement and regulatory bodies. This follows a period of nine days during which AscendEX has been inactive on social media platform X, and user withdrawals have remained unprocessed despite deposits functioning normally. Affected users, including a large-scale victim who contacted AscendEX co-founder George Cao without receiving a response, are encouraged to take action. Previously, on June 26, ZachXBT revealed suspicions that AscendEX might be encountering liquidity problems, with withdrawal delays extending from days to weeks. The situation has raised concerns among users about the exchange's financial stability and operational transparency.