How Long Does Manual Withdrawal Review Take During Exchange Shutdowns for BitMEX, BitMart, and AscendEX Users? Required Documents & Step-by-Step Guide

For many crypto investors, July 2026 became a turning point. As the EU’s MiCA regulation came into full effect, several exchanges entered shutdown or liquidation almost simultaneously:

• AscendEX stopped trading on July 1 and moved all withdrawals to manual review on July 6.

• BitMEX announced on July 23 that it would permanently shut down on September 23, 2026.

• BitMart began a phased wind-down plan in late July.

A large number of users discovered that withdrawals were no longer broadcast to the blockchain within minutes. Instead, orders remained stuck in “Pending,” “Processing,” or “Under Compliance Audit.” This introduced many users to Manual Withdrawal Review, and the most common questions became:

• How long will the review take?

• What documents do exchanges usually ask for?

This guide explains the process, timelines, and required documents for Manual Withdrawal Review on BitMEX, BitMart, and AscendEX, while also addressing common exchange withdrawal failed situations.

Key Takeaways

What Is Manual Withdrawal Review and Why Is It Triggered?

Under normal conditions, most withdrawals are processed automatically. The system checks balances, address formats, and basic risk controls, then broadcasts the transaction within minutes.

However, if the system detects unusual activity—or if the exchange enters a shutdown or liquidation phase—the withdrawal is suspended and sent to the compliance or risk-control team for Manual Withdrawal Review.

Common Triggers

• Funds linked to high-risk addresses such as mixers or sanctioned wallets.

• Recent changes to password, email, phone number, or Google Authenticator (2FA).

• A dormant account suddenly requesting a large withdrawal.

• Multiple small withdrawals submitted in a short period.

• The exchange enters liquidation and converts all withdrawals to manual review.

The last scenario became especially common in 2026, as many exchanges upgraded from random checks to 100% manual review to comply with AML and Travel Rule requirements.

How Long Does the Review Take on Each Exchange?

AscendEX

Since July 6, 2026, AscendEX has disabled automatic withdrawals, and all requests are manually reviewed.

Common statuses include:

• Initiating

• Pending

• Under Review

Because compliance staff must verify KYC details, sanctions screening, and account balances, many users have reported waiting days or even weeks. The exchange has also stated that it cannot guarantee a completion time.

BitMEX

BitMEX still processes many withdrawals quickly, but compliance queues have become noticeably longer as users withdraw funds ahead of the closure.

• August 26: Reduce-Only mode begins.

• September 23, 04:00 UTC: All services terminate.

Users who fail to withdraw before September 23 may later face custody or maintenance fees.

BitMart

BitMart has tightened KYC checks during its wind-down, especially for:

• Accounts with only basic KYC;

• Accounts with frequently changing IP addresses;

• Overseas or higher-risk accounts.

What Documents Are Needed for a Manual Withdrawal Review? A Practical Guide to Releasing Delayed Funds

When your crypto cashout encounters an exchange withdrawal failed error and prompts a Manual Withdrawal Review notice, it typically means the exchange’s risk management or compliance engine has flagged the transaction for human verification.

As long as you provide the requested documentation in accordance with standard compliance procedures, your withdrawal can usually be processed without unnecessary friction. Compliance teams generally require documentation across the following four verification tiers:

Tier 1: Identity and Address Verification (KYC & POA)

• Clear Photo ID: High-resolution, full-color original scans of a valid international passport, national ID card, or driver’s license. Documents must show all four corners clearly, with no cropping, glare, or digital editing.
• Selfie with ID and Handwritten Statement: A clear photo of yourself holding your physical ID alongside a handwritten note that reads: “For [Exchange Name] withdrawal clearance + Current Date (DD/MM/YYYY) + Your Full Signature”.
• Proof of Address (POA): A utility bill (water, gas, electricity), bank statement, or official tax document issued within the past 3 months clearly displaying your full name and residential address.

Tier 2: Source of Funds (SOF) and Source of Wealth (SOW)

The compliance department must confirm that the deposited crypto originates from legitimate financial channels:

• Traditional Financial Records: Recent payslips, tax assessments, property sales agreements, or investment portfolio statements.

• Crypto-Native Documentation: If funds originate from OTC or P2P trades, provide the corresponding bank transfer statements and P2P platform order histories. For earnings derived from yield or staking products, submit settlement receipts.

Tier 3: Complete Deposit and On-Chain Transaction Records

• Original Deposit Confirmation: Screenshots from the originating platform or wallet used when funds were first deposited into the exchange. Images must clearly display the Transaction ID (TxID), sender address, receiver address, deposit amount, and exact timestamp.

• Block Explorer Links: Direct URLs linking to the transaction on public block explorers such as Etherscan, Tronscan, or BscScan.

Tier 4: Proof of Destination Wallet Ownership

To ensure funds are not being routed to unverified or high-risk third-party accounts, exchanges may require proof that you control the destination wallet:

• Destination is a Centralized Exchange: A screen recording or full screenshot of the receiving account dashboard displaying your Account UID, registered email, and generated deposit address page.
• Destination is a Self-Custody Wallet (e.g., MetaMask, Ledger): A screenshot of the wallet interface displaying your public address, or a “Sign Message” verification using the wallet’s private key to sign a specific text string provided by the compliance team.

Step-by-Step Guide: How to Pass The Manual Withdrawal Review Efficiently and Avoid Rejection

1. Prepare Original, Unedited Document Files

Save all documents as original PDFs or high-resolution PNG/JPG files. Do not edit, crop, or use software like Photoshop to alter images. Automated compliance systems analyze EXIF metadata; any sign of post-processing will lead to an immediate rejection.

2. Communicate Professionally with the Compliance Team

When responding to compliance emails or support tickets, maintain a concise, neutral, and professional tone.

3. Avoid Common Mistakes That Delay Processing

• Do Not Repeatedly Cancel and Resubmit Requests: Canceling and resubmitting pushes your order back to the end of the manual queue, extending your waiting time.

• Do Not Submit Incomplete Files: Uploading bank statements missing page borders or address headers will result in automatic rejection.

• Maintain Professional Communication: Using hostile or aggressive language in support tickets will not expedite the review and may lower the processing priority of your ticket.

Critical Security Warnings During Manual Reviews

Beware of Impersonators and “Paid Unfreeze” Scams

During platform liquidations or service shutdowns, fraudsters frequently target users on Telegram, X (formerly Twitter), and Reddit.

• Golden Rule: Legitimate compliance teams never initiate contact via private messages and never demand fees for “expedited processing,” “priority unfreezing deposits,” or “unlocking taxes.” Any request demanding payment to release your funds is a scam.

Technical Details That Trigger Rejections

Minor oversights—such as lighting glare obscuring text, expired identification documents, fingers covering ID numbers in selfie photos, or a name spelling mismatch between your address proof and account records—will result in document rejection.

Post-Withdrawal Asset Security Strategy

Experiencing an exchange withdrawal failed error and navigating a prolonged Manual Withdrawal Review often highlights the operational vulnerabilities of smaller or struggling platforms, which sometimes use compliance checks to mask hot wallet liquidity shortages.

Once your funds are successfully released, migrating them to a stable and liquid platform is essential. Operating since 2011, BTCC is a preferred choice for migrating traders:

• Automated Risk Engine: Utilizes an automated withdrawal engine to minimize unnecessary manual holds and ensure smooth processing for major assets.
• 15-Year Operational Track Record: Established in 2011, BTCC maintains an clean security record and regularly publishes 100% Proof of Reserves (PoR).
• Exclusive Migration Incentives: New users migrating from shutting down or restricted exchanges can claim welcome deposit bonuses, trading fee discounts, and 24/7 dedicated customer support to seamlessly resume their trading strategies.