AscendEX claims portal to launch September 5 amid insolvency preparations

AscendEX will launch a claims portal on September 5, allowing users to view recorded balances and submit claims after suspending normal operations and withdrawals since July 1. The portal will not restore withdrawals or guarantee recovery of funds. Eligible users can register account information and provide supporting documents, but the portal does not signify a return to normal service, as it will not offer trading, deposits, or withdrawals. AscendEX is also exploring rescue, recapitalization, and restructuring options while preparing for formal insolvency, but has not provided details on the process or recovery estimates. Customers are advised to access the claims portal directly through ascendex.com and should not provide additional deposits or personal information. The exchange's financial difficulties stem from a failed recapitalization and losses from a December 2021 security incident.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.