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📋 How We Review: We evaluate every exchange using a consistent methodology. Our team tested AscendEX’s interface live, verified fees against the official fee schedule, and cross-checked security history against public blockchain data. Scores: fees (30%), security (25%), coins (20%), UX (15%), support (10%).
AscendEX (formerly BitMax) is a mid-tier exchange that stands out for one thing most competitors ignore: broad staking access across proof-of-stake networks. Before you deposit a single dollar, though, you need to know about December 2021 — attackers drained $77.7 million from AscendEX’s hot wallets. AscendEX fully reimbursed every affected user. That context matters, and we cover it completely.
⚡ TL;DR — AscendEX
Mid-tier exchange founded 2018 as BitMax. Best known for 50+ stakeable PoS assets. One major hack in 2021 — fully reimbursed.
- ⭐ Rating: 3.2/5 — best PoS staking breadth at this tier; 2021 hack and no PoR are key concerns
- 💰 Spot fee: 0.1% flat maker/taker (large cap) · 0.2% altcoins
- 📈 Futures fee: 0.02% maker / 0.06% taker · up to 100x leverage
- 🏆 Staking: 50+ PoS networks — ETH, ATOM, DOT, SOL, ADA, MATIC + dozens more
- 🚨 December 2021 hack: $77.7M from hot wallets — all users fully reimbursed from exchange reserves
- 📊 Transparency: No Proof of Reserves · no publicly disclosed insurance fund
- 🚫 Not available: US, Singapore, China, UK (FCA warning)
AscendEX Score Card
| Criteria | Weight | Score | Notes |
|---|---|---|---|
| Fees & Trading Costs | 30% | 4/5 | 0.1% flat spot fee — competitive; 0.02%/0.06% futures |
| Security & Trust | 25% | 2.5/5 | $77.7M hack Dec 2021 (fully reimbursed) · no PoR · no insurance fund disclosed |
| Coin Selection | 20% | 2.5/5 | 400+ coins · 50+ stakeable PoS assets · limited vs KuCoin/Gate.io |
| User Experience | 15% | 3/5 | Clean interface · no demo account · no fiat on-ramp · TradingView integration |
| Customer Support | 10% | 2.5/5 | Slow response times reported · Telegram support in 8+ languages |
| Overall: 3.2/5 — Best PoS staking breadth at mid-tier; 2021 hack and no PoR are key concerns | |||
🚨 December 2021 Hack — $77.7M Stolen: On December 11, 2021, attackers compromised AscendEX’s hot wallets across Ethereum, BSC, and Polygon networks, draining approximately $77.7 million. AscendEX covered the full loss from its own reserves and reimbursed every affected user — a meaningfully better response than Bitmart’s delayed compensation during the same period. Security audits and stricter cold/hot wallet separation followed. No major hack since 2021. However, no Proof of Reserves is published.
What Is AscendEX?
AscendEX launched in 2018 under the name BitMax, rebranding to AscendEX in March 2021. The exchange is operated by AscendEX Technology S.R.L., led by CEO George Cao (based in New York). It serves 9 million+ global investors. The platform offers spot trading, USDT-margined futures, margin trading, copy trading, staking, DeFi yield farming, leveraged tokens, the ASD Investment product, P2P, and OTC. Its flagship differentiator: 50+ stakeable proof-of-stake assets — broader than Coinbase, Kraken, or most mid-tier competitors.
AscendEX Staking: The Real Differentiator
This is where AscendEX earns its place. The platform supports validator staking across 50+ proof-of-stake networks — including assets not available for staking on Coinbase or Kraken. ETH, ATOM, DOT, SOL, ADA, MATIC, and dozens of additional assets are stakeable, with rewards credited automatically. You don’t need to run a validator node, manage keys, or understand the underlying protocol. For users who want PoS staking yield without technical overhead — especially for smaller PoS assets unavailable on larger platforms — this is genuine added value.
💡 Expert Tip: AscendEX doesn’t have a direct fiat on-ramp. The optimal workflow for most users: buy USDT on Bybit or Binance first, then transfer to AscendEX specifically for PoS staking products you can’t access there. Use AscendEX as a specialist staking venue, not your primary trading exchange.
AscendEX Fees
| Fee Type | Rate | Notes |
|---|---|---|
| Spot Maker/Taker (large cap) | 0.1% | Flat fee — competitive with KuCoin; no maker/taker spread at base |
| Spot (altcoins) | 0.2% | Higher rate for smaller coins |
| Futures Maker | 0.02% | Competitive — maker rebates up to -0.015% at top tiers |
| Futures Taker | 0.06% | Standard mid-tier rate |
| Staking | Commission varies by asset | Check each asset’s staking page |
| Deposit | Free | Crypto only — no direct fiat on-ramp |
Who Should Use AscendEX?
AscendEX is a good fit if you:
- Want staking access to 50+ PoS networks — especially smaller PoS assets not available on Coinbase, Kraken, or Binance
- Trade at 0.1% flat spot fees without maker/taker spread
- Need copy trading, leveraged tokens, or DeFi yield farming in one platform
- Are comfortable with the 2021 hack context given the full user reimbursement
This exchange probably isn’t right if you:
- Are in the US, UK, Singapore, or China — AscendEX is not available there (UK FCA has issued a warning)
- Require Proof of Reserves verification — not published by AscendEX
- Need deep liquidity for large spot or derivatives positions — Bybit significantly outpaces AscendEX on volume
- Need 700+ altcoins — KuCoin or Gate.io have far broader selections
Pros and Cons
| ✅ Pros | ❌ Cons |
|---|---|
| 50+ stakeable PoS assets — broadest selection at this tier | $77.7M hack Dec 2021 — even with full reimbursement, the record exists |
| 0.1% flat spot fee — no maker/taker premium | No Proof of Reserves published |
| Full user reimbursement after 2021 hack | No US access · UK FCA warning |
| USDT-margined futures · copy trading · leveraged tokens | Lower trading volume than Bybit, KuCoin, or Gate.io |
| DeFi yield farming · ASD Investment product | No fiat on-ramp · slow customer support |
| Maker rebates up to -0.015% at top tiers | No demo account · no desktop app |
AscendEX vs Staking-Focused Alternatives
| Feature | AscendEX | Kraken | KuCoin |
|---|---|---|---|
| Spot Fee (base) | 0.1% | 0.26% | 0.1% |
| Staking Breadth | 50+ PoS assets ✅ | Good (major PoS) | Good (broad assets) |
| Security (major hack) | $77.7M Dec 2021 (covered) | No incidents ✅ | $281M 2020 (84% recovered) |
| US Available | ❌ No | ✅ Yes | ❌ No |
| Proof of Reserves | ❌ Not published | ✅ Published | ✅ Published |
| Coins | 400+ | 200+ | 700+ ✅ |
| Review | This article | Click here | Click here |
FAQs
Is AscendEX available in the US?
No. AscendEX is not available to US-based users. It’s also restricted in Singapore, China, and UK (FCA warning). US residents should consider Kraken or Coinbase for regulated alternatives with staking features.
Was AscendEX hacked?
Yes — in December 2021, attackers drained approximately $77.7 million from AscendEX’s hot wallets across ETH, BSC, and Polygon. AscendEX fully reimbursed all affected users from its own reserves. The incident prompted major security upgrades and stricter cold/hot wallet separation. No major hack since 2021.
What assets can I stake on AscendEX?
AscendEX supports staking for 50+ proof-of-stake assets including ETH, ATOM, DOT, SOL, ADA, MATIC, and many smaller PoS networks. Rewards are credited automatically — no validator node management required.
Does AscendEX have Proof of Reserves?
No. AscendEX does not publish cryptographic Proof of Reserves as of 2026. This is a meaningful transparency gap — most top-tier exchanges now offer PoR verification. Bybit and Kraken both publish PoR if this is a priority for you.
Bottom Line: AscendEX earns its place for one specific use case — staking access to 50+ PoS networks from a non-US centralized exchange at 0.1% spot fees. The 2021 hack with full reimbursement is a positive precedent. That said, for general-purpose trading, KuCoin (700+ coins) or Bybit (deeper liquidity, PoR published) are stronger all-around choices. Use AscendEX specifically if PoS staking breadth is your primary priority and you’re comfortable with the absence of published Proof of Reserves.
📋 Related Reviews: Kraken Review | KuCoin Review | Gate.io Review
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