AscendEX Shutdown: What Users Must Do Now (Complete Timeline & Withdrawal Guide)

With the continued tightening of cryptocurrency industry regulations and the accelerated pace of global compliance, the well-known and long-established centralized exchange AscendEX officially announced its cessation of operations in July 2026. Faced with this major unexpected event, the AscendEX Shutdown, users worldwide faced severe challenges regarding asset security and transfer.

To help affected investors minimize financial risks and smoothly complete historical transaction archiving and asset migration, this article will break down the key timeline of the AscendEX shutdown, the remaining account functions, the withdrawal process, and a complete practical guide to switching to the industry-leading platform BTCC.

AscendEX Is Shutting Down: What Users Need to Do First (Including the Closure Timeline)

AscendEX has officially ceased its normal business operations. For users who still hold cryptocurrency on the platform, the priority is no longer trading—it’s securing assets, backing up account records, and completing withdrawals as soon as possible.

According to the official announcement, the shutdown was driven by two primary factors. First, AscendEX was unable to obtain the required operating licenses following the full implementation of the European Union’s Markets in Crypto-Assets (MiCA) regulation. Second, the strategic financing and acquisition plans that were expected to support the platform ultimately failed after the counterparty did not fulfill its contractual obligations. As a result, AscendEX decided to wind down its operations and begin the account settlement process.

Users with remaining assets should familiarize themselves with the shutdown timeline and complete withdrawals as early as possible before any additional restrictions are introduced.

AscendEX Closure Timeline

July 1, 2026: Platform Operations Officially Suspended (Already Effective)

As of July 1, 2026, AscendEX officially discontinued its day-to-day business operations and disabled nearly all trading-related services.

The following services have been suspended:

• New account registration and KYC applications;
• Spot trading;
• Derivatives and futures trading;
• Cryptocurrency deposits;
• Staking, lending, Earn products, and other yield-generating services.

At the same time, all open orders were automatically canceled, and any locked balances or reserved assets were released back to users’ spot accounts, making them available for withdrawal.

Current Stage: Asset Withdrawal and Account Settlement

Although trading and deposits are no longer available, AscendEX continues to provide a limited set of account functions to support users during the wind-down process.

The following features remain available:

• Cryptocurrency withdrawals, allowing users to transfer assets to another exchange or a personal wallet;
• Data export, including deposit history, withdrawal records, spot and derivatives trading history, and account statements for tax reporting or personal recordkeeping;
• KYC updates, enabling users to submit or update identity documents if required during the withdrawal review process;
• Customer support tickets, where users can request assistance with withdrawals, account verification, or other account-related issues.

Because the platform is already in the liquidation phase, these remaining services may not be available indefinitely. Users are encouraged to withdraw their assets as early as possible rather than leaving funds on the exchange.

Immediate Action Plan for Users

If you still have funds on AscendEX, consider completing the following steps without delay.

Step 1: Stop Depositing Funds Immediately

This is the most important precaution.

Since cryptocurrency deposits have already been disabled, you should not send digital assets to any previous AscendEX deposit address.

Even if a blockchain transaction is successfully confirmed, the platform may no longer process incoming deposits, making fund recovery difficult or, in some cases, impossible.

Before transferring assets, always verify that the destination address belongs to your new exchange account or your personal wallet—not to AscendEX.

Step 2: Review All Account Balances

Log in to your AscendEX account and carefully review every asset you own.

In addition to your spot balance, check any assets previously held in Staking, Earn, lending products, promotional rewards, or other account sections.

Preparing a checklist that includes each token, the amount held, and its intended destination can help reduce the risk of overlooking assets during the withdrawal process.

Step 3: Download Your Complete Account History

Even if you plan to withdraw everything immediately, it’s highly recommended to back up your account records first.

Download and securely store:

• Deposit history;
• Withdrawal history;
• Spot trading records;
• Derivatives trading history;
• Account statements and CSV reports.

These files can be valuable for tax reporting, portfolio tracking, auditing, or verifying past transactions in the future.

Waiting until additional platform functions are removed may make it more difficult to access historical data, so downloading and backing up your records now is the safest approach.

👉Secure Your Crypto Now: Withdraw to BTCC！

Four Important Things to Confirm Before Transferring Your Cryptocurrency

Before moving your assets from AscendEX to another exchange such as BTCC, it’s worth taking a few minutes to review several important details. While crypto transfers are generally straightforward, blockchain transactions are usually irreversible once submitted. Verifying everything in advance is the best way to avoid unnecessary mistakes.

1. Make sure the blockchain network matches

Choosing the correct blockchain network is the single most important step when transferring cryptocurrency.

Many digital assets are available on multiple networks. For example, USDT can be transferred through Ethereum (ERC-20), TRON (TRC-20), or BNB Chain (BEP-20), while assets such as BTC and SOL each operate on their own native blockchains.

The withdrawal network selected on AscendEX must exactly match the deposit network selected on BTCC.

For example, sending ERC-20 USDT from AscendEX to a TRC-20 USDT deposit address on BTCC may result in the assets becoming inaccessible or permanently lost because the two blockchain networks are not compatible.

Before confirming your withdrawal, always verify the asset, blockchain network, and deposit address instead of relying solely on the token name.

2. Verify whether a Memo or Destination Tag is required

Some cryptocurrencies require more than just a wallet address.

Assets such as XRP, EOS, XLM, and ATOM typically use a shared-address system, meaning exchanges rely on a Memo or Destination Tag to identify which user’s account should receive the deposit.

If the wallet address is correct but the Memo or Destination Tag is missing or entered incorrectly, the funds may arrive at the exchange’s wallet but cannot be credited to your account automatically.

In these situations, users often need to contact customer support and provide the transaction hash (TxID) along with additional account information before the exchange can manually recover the deposit.

To avoid unnecessary delays, always copy both the deposit address and the corresponding Memo or Destination Tag exactly as displayed.

3. Check the minimum withdrawal and deposit requirements

Besides verifying the network, you should also review the minimum transfer limits on both platforms.

AscendEX sets a minimum withdrawal amount for each supported cryptocurrency. If your withdrawal amount falls below that threshold, the request cannot be submitted.

Similarly, BTCC requires deposits to meet a minimum amount before they can be credited automatically. If the amount received after blockchain network fees is lower than the required minimum deposit, the transaction may require manual assistance before it can be credited.

To reduce the risk of delays, check both the AscendEX minimum withdrawal requirement and the BTCC minimum deposit requirement before initiating the transfer, and remember to account for blockchain transaction fees.

4. Be prepared for AscendEX’s manual withdrawal review process

Because AscendEX is currently going through its shutdown and liquidation process, withdrawals are no longer handled in the same way as during normal operations.

According to the official announcement, since July 6, 2026, the platform has disabled its automated withdrawal system, and all withdrawal requests are now subject to manual review.

The review process may include additional KYC verification, AML (Anti-Money Laundering) screening, sanctions list checks, and internal wallet liquidity management before funds are released.

As a result, withdrawal processing may take several days or even longer in certain cases.

To help avoid unnecessary delays, users are encouraged to prepare their identification documents in advance, including a valid passport or national ID, a selfie holding the identification document if requested, and access to the registered email address so that any verification requests from the compliance team can be completed promptly.

How to Withdraw Funds from AscendEX to BTCC: A Step-by-Step Guide

If you’re planning to move your assets from AscendEX to BTCC, following a structured process can help reduce the risk of transfer errors. Preparing your deposit information in advance and carefully reviewing each step will make the migration smoother and more secure.

Step 1: Obtain the Correct Deposit Address on BTCC

Before initiating a withdrawal, you’ll first need to generate the appropriate deposit address on BTCC.

Open the BTCC app or log in to the official website, navigate to the Assets page, and select Deposit.

Search for the cryptocurrency you want to transfer, such as USDT, BTC, or ETH.

If you’re depositing USDT, you’ll also need to choose the blockchain network. Many users prefer TRC-20 or BEP-20 because they generally offer faster confirmation times and lower network fees. Regardless of which network you choose, it must exactly match the withdrawal network selected on AscendEX.

Once you’ve confirmed both the asset and the blockchain network, copy the deposit address provided by BTCC.

If the deposit page also displays a Memo or Destination Tag—commonly required for assets such as XRP, EOS, XLM, or ATOM—copy that information as well. Both the wallet address and the Memo/Tag are required for a successful transfer.

👉Secure Your Crypto Now: Withdraw to BTCC！

Step 2: Plan Your Asset Transfer and Submit the Withdrawal Request

After preparing your BTCC deposit information, log in to your AscendEX account and open the Withdraw page.

Select the same cryptocurrency that you intend to deposit into BTCC, then paste the deposit address you copied earlier. If the asset requires a Memo or Destination Tag, enter it exactly as shown on BTCC.

Before submitting the withdrawal request, it’s a good idea to decide which assets to transfer first.

In most cases, highly liquid cryptocurrencies such as USDT, BTC, and ETH are the easiest to transfer between exchanges and are generally more convenient for continued trading.

If your account also contains low-value or thinly traded tokens, compare the withdrawal fee with the value of the asset itself. If the network fee is close to—or even exceeds—the value of the token, you may choose to prioritize transferring higher-value assets first and decide later whether withdrawing the remaining tokens is worthwhile.

Finally, review the withdrawal amount, blockchain network, destination address, and estimated amount to be received.

Keep in mind that the final amount credited to BTCC will normally be lower than the withdrawal amount because blockchain network fees are deducted before the transaction is processed.

Once everything has been verified, submit your withdrawal request.

Step 3: Complete Security Verification and Monitor the Review Process

AscendEX requires several security checks before a withdrawal can be processed.

Depending on your account settings, you’ll typically need to enter your email verification code, SMS verification code, and Google Authenticator (2FA) code before confirming the transaction.

After the request has been submitted, visit the Withdrawal History page in your AscendEX account to monitor its progress.

Once the platform broadcasts the transaction to the blockchain, a transaction hash (TxID) will be generated. You can use the TxID to track the transaction through a blockchain explorer while also monitoring your BTCC deposit history for confirmation.

If the withdrawal remains in Pending or Under Review status for an extended period, it generally means the request is still undergoing manual review.

Because AscendEX is currently in the process of winding down its operations, withdrawal reviews may take longer than usual. Keep access to your registered email address and watch for any messages from the platform.

If the compliance team requests additional documentation—such as identity verification, KYC documents, or other supporting information—submit the required materials promptly to help your withdrawal proceed without unnecessary delays.

How to Deposit Crypto into BTCC and Unlock Welcome Deposit Bonuses

After withdrawing your assets from AscendEX, the next step is to deposit them into your BTCC account. As long as the deposit information is correct and the blockchain transaction receives the required number of network confirmations, your funds will normally be credited automatically without any additional action.

If you’re new to BTCC, your first deposit may also qualify you for the platform’s welcome promotions, allowing eligible users to receive deposit bonuses, trading incentives, and other exclusive rewards.

Depositing Cryptocurrency into Your BTCC Account

Once your withdrawal has been submitted from AscendEX, the transaction will be broadcast to the blockchain network for confirmation.

The number of confirmations required varies depending on the cryptocurrency and blockchain network. After the transaction reaches the confirmation threshold required by BTCC, the system will automatically credit the funds to your account.

You can monitor the status by visiting the Assets page or checking your Deposit History within your BTCC account.

After the deposit is completed, BTCC will typically notify you through an in-app notification and a confirmation email, allowing you to verify that the funds have arrived successfully.

If your deposit has not been credited after an extended period, first use the transaction hash (TxID) provided by AscendEX to verify the blockchain confirmation status through a blockchain explorer. If the transaction has already been confirmed but the funds have not appeared in your account, contact BTCC’s official customer support for assistance.

Overview of the BTCC Welcome Deposit Bonus Program

As one of the world’s longest-operating cryptocurrency exchanges, BTCC regularly offers welcome promotions for new users. If you’re transferring assets from AscendEX, you may be eligible to participate after completing your first qualifying deposit.

While promotional campaigns may change over time, the platform commonly offers the following types of rewards.

First Deposit Bonus

Eligible new users can receive tiered futures trading bonuses based on the amount of their first net deposit.

In general, larger qualifying deposits unlock higher bonus tiers. The specific reward amounts and eligibility requirements are determined by the promotion available at the time.

Welcome Pack

After completing identity verification (KYC), making your first deposit, and finishing designated beginner tasks, you may also qualify for additional rewards such as bonus credits, trading fee vouchers, or other promotional incentives.

Completing more eligible tasks may unlock additional benefits.

Trading Fee Discounts

Some promotional campaigns also provide discounted trading fees or VIP fee benefits for qualifying users, helping reduce the cost of future spot or derivatives trading.

The available discounts and promotional periods may vary, so always refer to the latest information on the official BTCC promotions page.

Step-by-Step Guide to Claiming Your Rewards

Once your deposit has been credited, you can unlock your eligible rewards by completing a few simple steps.

Step 1: Register a BTCC Account and Complete Identity Verification

Log in to your BTCC account and complete the required KYC verification.

Most welcome promotions require identity verification before rewards can be claimed, so it’s recommended to complete this step before making your first deposit.

👉Create a Free BTCC Account, Confirm your bonus！

Step 2: Complete Your First Qualifying Deposit

Transfer your cryptocurrency from AscendEX to BTCC and ensure that the net deposit amount meets the minimum requirement specified by the promotion.

Review the campaign details in advance so you know which deposit tier qualifies for the rewards you want to receive.

Step 3: Claim Your Rewards in the Rewards Center

After your deposit satisfies the promotion requirements, open the Rewards Center in your BTCC account.

If you’re eligible, the corresponding reward tasks will appear automatically. Follow the on-screen instructions to claim your futures bonus or other available rewards.

Step 4: Use Your Bonus Credits

Once claimed, the bonus credits are typically credited to your rewards account automatically.

Depending on the terms of the promotion, bonus funds can generally be used as margin for eligible futures trading or applied toward trading fees and qualifying trading losses. Because usage rules, expiration dates, and withdrawal conditions may vary between campaigns, it’s recommended to review the promotion terms before using the bonus.

By completing these steps, you can not only finish your asset migration successfully but also take advantage of BTCC’s welcome incentives as you begin trading on your new platform.

Transfer Complete: What Should You Do Next?

1. Confirm Asset Receipt and Account Security

2. Download and Archive Historical AscendEX Data

3. Rebalance Your Portfolio and Resume Trading Strategies