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Just curious as ive never used them waiting to withdraw over 30 hours waiting for a review when i was asked only to verify and i did still taking over 30 hours.

Has anyone else used them?

I have not even head of the exchange but of all the exchange I used, non have I ever had a 1 hour delay on withdrawal, there's no normal and reputable exchange that will delay your withdrawal for 30 hours unless you were asked to do KYC and you did not do it. This exchange was operation with an old name Bitmax according to my research, it looks legit, maybe you can contact their support and make a complaint first.

Yeah i cant imagine they dont let anyone withdraw they asked me to verify and they say they have to do manual reviews that can take up to 72 hours.

Its also a large amount of funds as well. So maybe that can take longer to review.

Its the only exchange in Canada that trades Zcash leverage that im allowed to use. Canadian government blocked all other exchanges including Binance that i could leverage Zcash on

oops, now i get to understand why you decided to use such exchange which is not among the tier 1 exchange.  Since they have asked you to wait for 72 hours, you will just have to exercise patients for the manual review to be done, until you get a feedback from them after the 72hrs before you can know your next line of action.

That's one problem with centralized platforms, I feel sorry for the inconvenience this must have caused you.

edit

Have you also confirmed that Zcash leverage trade has also been suspended on kraken and bitget exchange?

Unfortunately, these kind of exchange can always bring up the KYC card, and halt everything until they're done checking.

Manual review would take more time as oppose to automated verification where majority of users in general go through. Usually, manual reviews are done to special cases. Hopefully they get to uphold the "up to 72 hours" and it won't be delayed cause I've seen delays in various CEX before.

On another note, I don't think they're actually licensed to operate in Canada? or am I wrong?

The reason you have never heard of it is probably because they rebranded. Initially, the exchange was known as BitMax. Most traders knew about it even during the time of rebranding.

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@vanhalendlrband, they told you to wait for up to 72 hours, but just after 30 hours you are already complaining. Why can't you wait up to the time they stated?
Manual review of KYC can take days as your details are not the only ones being reviewed. Leave them to do their work, and then you will complain later if you are not worked on. They have at least tried to give you the ETA

If thats normal then im ok with the 48-72 hours. Just was wondering if anyone else has used them and if that is standard for them not really a complaint was just hoping this was standard procedure actually.

it is available in Canada i registered and verified from Canada. It is also in their list of supported regions

if its like a standard procedure for 48-72 hours then im ok with that wanted to see who else has used them as well and if they knew if this was normal for this exchange or not

Manual reviews for large withdrawals are normal for centralized services, although from customer perspective, it's still frustrating to wait for them to release my money. This might be a bigger question if multiple users report the same thing simultaneously.

The problem is, they likely have multiple trigger levels depending on the size of your funds, which affects the review duration. I think you should start some fusses on any public media (where they can reach) if they exceed their self-imposed deadlines.

yeah see what happens about 12 and a half hours to go

I don't think it's wise to be too literal when it comes to the timelines provided by exchanges' support. When they mention 48 to 72 hours, it could actually easily go 96, 120 hours, even weeks and months. There's actually no point trusting the words of exchanges. If even their guarantee of users' safety of funds they can't keep, what more about hourly timelines? I hope I'll be proven wrong within hours.

Anyway, I also doubt Ascendex is registered in Canada. I doubt they're regulated under FINTRAC or CSA, or at least I couldn't find their name in the official sites.

I know its on their list of allowed countries on Ascendex and i had verified with my Canadian ID selecting Canada from their drop down menu and passed the verification fine.

They seem to be listing lots of new coins too and lots of promotions. They got a 7 year anniversary giveaway and theyre like one of the tops for volume on zcash perpetuals

How long do you think i should wait and are there any other steps to take?

Zcash has been available on Hyperliquid since last month. Being blockchain based, it might not be as streamlined of an experience as using a traditional centralized exchange, but it has the benefit of not having KYC requirements.

The reviews for AscendEX on Trustpilot (https://www.trustpilot.com/review/ascendex.com) are overwhelmingly bad. If you are able to recover your funds, it would probably be best to stop using them.

OMG, the platform received a one-star rating with 81% negative reviews!
Although I don't rely entirely on Trustpilot, this should definitely be taken into consideration.

I also found that a warning was issued on May 30, 2024, by the FCA stating that the platform is not authorized and is unlicensed by them. [Source (https://www.fca.org.uk/news/warnings/ascendex-buy-sell-crypto)]

Many of the reviews I found complain that the platform prevented them from making withdrawals and froze their accounts. They also reported unreasonable delays in resolving their issues. The OP will be lucky if he manages to withdraw his funds after they complete the manual review process and respond to his message.

I find trustpilot says that about every exchange. theyre running a 7 year anniversary giveaway right now even listing coins and lots of promotions. I find every exchange has an issue of suspended users, its like 10-30% for like all the exchanges so its hard to trust trustpilot too

Poloniex has bad reviews but ive used them since 2016 without issue withdrawing or anything like that for example

My withdraw was rejected without explanation

Ive tried to contact support again but no response.

i dont believe you can use those exchanges in Canada unless im mistaken. Kraken also has very little in orders on their futures of zec could easily spike wick the wrong way on there but may have been why i didnt use kraken. Ascendex trades millions a day in zec it seems on their futures

From your previous comment above, you said you have done some verification (you submitted your ID) on the exchange and if your account is not blocked, then the withdrawal should go through, unless the exchange is being operated by scammers. I checked their x handle and they are active with 263k followers, so I have 2 suggestions to give you.
1;  I don't know the coin and with which blockchain network you carried out the first withdrawal but my suggestion is that you should convert the coin to a different coin and submit another withdrawal using a different blockchain network.
2; Create account on X and send them a DM with proof of your claims.

Did you do that with the option of "submit a request? " If you said no, then you should raise your complaints via their "submit a request option, but if that's what you did already, just take the 2 suggestions I made.

https://www.talkimg.com/images/2025/11/11/U6xYjb.jpeghttps://www.talkimg.com/images/2025/11/11/U6xvPC.jpeg

Poloniex went downhill a long time ago. Since they were acquired by Justin Sun they have only gotten worse. Maybe you’ve been unaffected but their reputation isn’t all that great.

I don’t find Trutpilot to be all that reliable either, but what people are saying matches up with what is said on Reddit, which is a much better source.

https://www.reddit.com/search/?q=ascendex

I went on telegram on a different account wnd they were good at first then I sent a message asking for an update 7 hours later as they told me id have a response soon and i was restricted from sending messages in the telegram.

they rejected my withdraw this morning after 3 days may have been a timeout tho

Which means the funds are once again in your wallet? Or are they held hostage?

If the funds are already in your account and you want to withdraw them, you might consider withdrawing them in varying small amounts and not with fixed intervals. Don't attract unnecessary attention or set off certain triggers. You mentioned it's a large amount of withdrawal. Surely, you don't want to undergo another manual review for your transaction. Don't even make the impression that you're leaving Ascendex for good. They seem a shady exchange.

Also, are you withdrawing in ZEC? If yes, is it possible you can withdraw in BTC or stablecoins? I'm not sure how friendly regulators in your country are but ZCash is widely treated as a privacy coin. And it has been highly scrutinized, even delisted in some areas. It's better to err on the side of caution.

yeah all back in my wallet rejected 3 times. I am now trying a smaller amount but thats also under review. They say they review every new address so doesnt matter how large it seems. They take high withdraw fees so multiple transactions will cost a lot of money too if they even let me take out anything at all

oh and forgot to add no explanation given.

Im gonna guess a hot wallet but i will have to see maybe theyll let me withdraw lower amounts over time see what happens with this latest withdraw.

Best of luck this tme, I hope it goes through. Did you contact them via their X account  https://x.com/AscendEX_?t=gAqZhRhRXYNi1ERI2V3adQ&s=09 like I suggested above?

How I wish this is just about luck. But after 3 rejected withdrawals, even a smaller amount undergoing review, and every new address to be also reviewed, something doesn't seem right. It appears this questionable exchange is deliberately preventing any amount to leave your account.

Depending on how this last attempt goes, I don't think silently contacting them via their X account is enough. Perhaps making a public noise is called for? Expose to the public how this exchange mishandled your transactions. Perhaps it's the only way for you to force them to respond clearly.

Or if you're part of an Ascendex community, you might want to just sell it to a fellow user. That's just internal transfer. It must be easier. Or how about P2P? Ascendex has it, right? That must also be easier. Your funds won't have to be withdrawn to an external wallet.