AscendEX pushes for insolvency and rescue deals as claim portal to launch September 5

With normal operations and withdrawals suspended since July 1, the AscendEX claims portal is targeted for Sept. 5 and would let users see recorded balances and submit claims. The exchange says the new system will not initially restore withdrawals or guarantee that customers recover anything.

The exchange set out the plan in an Aug. 22 customer update, describing Sept. 5 as an estimated initial launch date that could move if more technical, security or legal work is required. AscendEX said eligible users would be able to review recorded balances, register account information, submit claims and provide supporting documents.

The portal is not a return to normal service. It will initially offer no trading, deposits or withdrawals. AscendEX also said a balance shown on the site or an accepted submission would not mean that a claim had been admitted. Neither step would establish a claim's legal status or priority, nor guarantee the amount or timing of a recovery.

… Continue reading the full article at the original source below.