AscendEX is a cryptocurrency trading platform offering a wide range of crypto tokens and investment options. However, despite its modern interface, the platform has raised serious concerns related to regulation, user fund safety, and transparency. This AscendEX review outlines all the red flags and risks traders should know before using it.
AscendEX Broker Overview
- Website: https://ascendex.com/en
- Website Availability: Yes
- Address: NA
- Owned By: AscendEX
- Blacklisted by: Monetary Authority of Singapore & Financial Conduct Authority (United Kingdom)
- Domain Blacklisted Status: It seems there is no direct mention of this domain being on a blacklist.
Is AscendEX Regulated?
No. AscendEX is not regulated by any major authority. The Monetary Authority of Singapore and the UK Financial Conduct Authority (FCA) have issued public warnings against the platform. It is not licensed to provide financial services, making it an unsafe option for investors.
Check Full Warnings Here:
FCA Warning: https://www.fca.org.uk/news/warnings/ascendex-buy-sell-crypto
Monetary Authority of Singapore Warning: https://www.mas.gov.sg/investor-alert-list
Has AscendEX Been Hacked?
Yes. In December 2021, AscendEX suffered a massive security breach, losing $77 million in user funds from its hot wallets. Although they promised to reimburse users, the incident highlighted critical weaknesses in their security infrastructure.
Are There Scam or Phishing Risks?
Absolutely. AscendEX has been impersonated in phishing attacks, where scammers send fake emails or links to trick users into giving up their login credentials. Users are strongly advised to double-check URLs, enable two-factor authentication, and ignore unsolicited messages.
Is There Any Contact Information?
No. The official website of AscendEX does not provide any contact information, such as an office address, email, or phone number. This complete lack of transparency is a significant red flag and makes it difficult for users to seek support or file complaints.
What Are Users Saying?
User reviews on Trustpilot and Reddit reveal troubling patterns:
- Locked funds and delayed withdrawals
- Poor customer support
- Hidden fees
- Missing crypto balances
Some users report that their funds were held for over 90 days without resolution, calling the platform a “financial blackhole.”
Final Verdict on AscendEX
Based on this AscendEX review, the platform presents serious risks. From a $77M hack and phishing scams to zero regulation and no contact details, users should proceed with extreme caution or avoid it entirely.
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