AscendEX (BMXDM Technology) is freezing $72,000 without any valid reason.
Hi everyone, I am sharing this to warn the community and seek advice regarding my current situation with AscendEX. I have been using AscendEX for over 1.5 years without major issues until now. However, after making a profit, I am now facing a complete freeze of my funds. The Situation: Total Amount Frozen: $71,737 USD Rejected Withdrawals: On May 6th, four withdrawal requests (Total $45,000, including 25,592 XRP) were rejected without any valid explanation. Pending Status: A small test withdrawal of 1,000 USDT has been stuck in "Waiting" since May 12th. Support Response: Support staff (including Cyril) are providing only macro responses or ghosting me. Tickets #222780 and #222562 are ignored. Why this is alarming: Through my own investigation, I have identified several other users (including a group in Vietnam) facing the exact same pattern: profits made, followed by sudden "Manual Approval" delays and eventual ghosting by support. Based on these growing number of cases, there are suspicious circumstances suggesting potential issues with their operational integrity: Manual Approval Trap: Their system seems to selectively block withdrawals, which is highly unusual for a major platform. Lack of Transparency: Public data on their Proof of Reserves (PoR) is currently inconsistent or flagged as missing on some tracking sites. Abnormal Market Behavior: I've noticed unusually high spreads in major pairs like XRP/USDT (over 2%), which often correlates with internal issues. Official Actions Taken: I have not remained silent. I have already filed official reports with: Singapore Police Force (SPF): Case Ref: SR/20260512/0245 Monetary Authority of Singapore (MAS): Reported for PSA (Payment Services Act) violations. I am sharing this to find more victims and build a collective case. If you have funds on AscendEX, I strongly advise you to be cautious. Has anyone else experienced this "Waiting" status for days? I have all the screenshots of the rejected transactions and my communication with MAS to prove my case.