AscendEX Withdrawal Crisis Deepens: ZachXBT Sets Minimum Threshold for Crypto Theft Cases
The post AscendEX Withdrawal Crisis Deepens: ZachXBT Sets Minimum Threshold for Crypto Theft Cases appeared on BitcoinEthereumNews.com. The AscendEX situation is getting worse, and ZachXBT is making sure the public knows exactly how bad it is. The on-chain investigator has now confirmed that the exchange’s hot wallet is effectively empty, ETH, USDT, and SOL nearly completely depleted, while deposits continue to flow in and the official team has gone more than nine days without making a single public statement. Internal leaks have added an uglier layer to the story: four months of unpaid employee salaries, a co-founder allegedly running a “family business” dynamic to keep staff compliant, and fabricated relationships used to maintain control as the whole operation appears to have unraveled from the inside. ZachXBT has also gone a step further, publicly revealing co-founder George (Jing) Cao’s Venmo account and telling affected users to chase their funds themselves, a move that reflects