This is our independent AscendEX DEX Review (2026). Is AscendEX dead? Why does Trustpilot show a 1.3/5 rating? And should you use their Orderly Network-powered DEX when the parent company has frozen user accounts for 18+ months?
The honest summary: AscendEX is a tale of two platforms. The DEX component — built on Orderly Network — technically works fine: gasless perp trading, 50x leverage, multi-chain support (Arbitrum, Optimism, Base). But the parent company has earned a catastrophic 1.3/5 Trustpilot rating with hundreds of complaints about frozen accounts, stolen funds, and non-existent customer support.
Here's the uncomfortable truth: multiple users report accounts frozen for over 18 months with no resolution. Tokens get delisted with minimum withdrawal limits higher than user balances — effectively trapping funds. The $77.7 million hack in 2021 was reimbursed, but the trust damage persists. The ASD token has collapsed to ~$0.02.
Should you use AscendEX DEX? Probably not. While the Orderly Network infrastructure is legitimate (it powers multiple better-regarded platforms), why use AscendEX's frontend when you could use Hyperliquid for perps or any other Orderly broker without the baggage? The DEX is technically functional, but the brand is radioactive.
If you're looking for perp DEXs in 2026, Hyperliquid dominates with $32B+ daily volume. For Solana perps, Jupiter offers 250x leverage. AscendEX DEX is not "dead" — it's worse: it's operational but untrustworthy.
AscendEX Review - Introduction
AscendEX (formerly BitMax) launched in 2018 as a centralized exchange. In 2024, they partnered with Orderly Network to offer a decentralized perpetual futures platform. The DEX operates independently of user funds held on the CEX — but the company reputation affects both.
Key Facts (Updated February 2026):
- Founded: 2018 (as BitMax)
- DEX Launch: 2024 (via Orderly Network)
- Chains: Arbitrum, Optimism, Base
- Max Leverage: 50x
- Token: ASD — ~$0.02 (down ~95% from highs)
- Trustpilot Rating: 1.3/5 ⚠️
- 2021 Hack: $77.7M stolen (users reimbursed)
AscendEX Review - The Trust Problem
Before discussing features, we need to address the elephant in the room.
Trustpilot: 1.3/5 "Bad" Rating
AscendEX has accumulated hundreds of negative reviews:
- "Scam exchange" — multiple accounts
- "Account frozen for 18+ months" — with no support response
- "Delisted tokens with impossible withdrawal limits" — minimum withdrawal exceeds holdings
- "They cancelled trades and swaps with no notice"
- "Fraudsters and scammers"
One user reports: "Since July 2025, I can no longer access the account at all because SMS codes for 2FA stopped arriving. Support has sent only automated responses in over 18 months."
The 2021 Hack
In December 2021, hackers stole $77.7 million from AscendEX hot wallets. To their credit, the company fully reimbursed affected users. However, this event — combined with ongoing account issues — eroded user trust.
Token Delistings Gone Wrong
Multiple users report that when AscendEX delists tokens, they set minimum withdrawal limits higher than user holdings, then charge fees that exceed the balance. Result: funds are effectively confiscated with no recourse.
AscendEX DEX - How It Works
The DEX component uses Orderly Network's infrastructure, which is legitimate and powers several platforms.
Technical Architecture
- Orderly Network: Provides unified orderbook, liquidity aggregation, and settlement
- Multi-chain: Arbitrum, Optimism, Base
- Gasless trading: No gas fees for order placement
- USDC margin: All positions settled in USDC
- Self-custody: Connect your own wallet (MetaMask, WalletConnect, etc.)
Features
- Up to 50x leverage on perpetual futures
- Order types: Limit, Market, Stop-Limit, Stop-Market
- 8-hour funding: Settlement at UTC 0:00, 8:00, 16:00
- Professional market makers: Wintermute, Selini, Riverside provide liquidity
Important Distinction
The DEX operates through your Web3 wallet — funds never touch AscendEX custody. This is technically safer than using the CEX. However, if something goes wrong, you're dealing with the same company and support (or lack thereof).
AscendEX Review - Fees
DEX Trading Fees
| Fee Type | Rate |
|---|---|
| Maker | 0.02% |
| Taker | 0.06% |
| Gas | $0 (gasless) |
Fees are competitive with other Orderly-powered platforms. The problem isn't fees — it's whether you can withdraw.
CEX Withdrawal Issues
Users report:
- 15 TRX withdrawal fee when competitors charge 1 TRX
- 2 USDT fee when competitors charge $0.01
- Minimum withdrawals set higher than holdings on delisted tokens
AscendEX Review - Security
The Good (DEX)
- Orderly Network infrastructure is audited and battle-tested
- Self-custody via Web3 wallet — your keys, your crypto
- No funds held by AscendEX when using DEX
The Bad (Company History)
- $77.7M hack in December 2021
- Multiple reports of frozen accounts
- No CertiK or major security firm audit visible
- Pattern of unresponsive support
Our Assessment: 4/10 — The DEX infrastructure (Orderly) is fine. The company operating it has serious trust issues.
AscendEX Review - Pros & Cons
✅ Pros
- Orderly Network backend: Legitimate, battle-tested infrastructure
- Gasless trading: No gas fees on order placement
- Multi-chain support: Arbitrum, Optimism, Base
- Self-custody DEX: Funds stay in your wallet
- 50x leverage: Competitive with other perp DEXs
❌ Cons
- 1.3/5 Trustpilot rating: Catastrophic user trust
- Frozen accounts: Multiple reports of 18+ month lockouts
- Poor support: Automated responses, no resolution
- Token delisting traps: Withdrawal limits exceeding holdings
- $77.7M hack history: 2021 breach (reimbursed but damaging)
- ASD token collapse: Down ~95% from highs
- Better alternatives exist: Why use this when Hyperliquid exists?
AscendEX Review - Alternatives
AscendEX vs Hyperliquid
Hyperliquid processes $32B+ daily perp volume with a purpose-built L1, zero gas fees, and clean reputation. If you want perpetual futures, Hyperliquid is the obvious choice. There's no reason to use AscendEX DEX instead.
AscendEX vs Jupiter Perps
For Solana-native perps, Jupiter offers 250x leverage with JLP liquidity. Integrated with Solana's leading DEX aggregator and backed by $35M from ParaFi. Far better reputation.
AscendEX vs Other Orderly Brokers
Orderly Network powers multiple DEXs. If you specifically want Orderly infrastructure, consider other brokers without AscendEX's baggage — though even then, Hyperliquid or dYdX are likely better choices.
Verdict: Should You Use AscendEX DEX?
Our Rating: 3.5/10
The DEX technically works. The Orderly Network infrastructure is legitimate. But why would you use a platform from a company with a 1.3/5 trust rating when better alternatives exist?
Consider AscendEX DEX only if:
- You specifically need an Orderly Network broker
- You're comfortable with zero customer support if issues arise
- You only use the self-custody DEX (never the CEX)
Skip AscendEX if:
- You want perpetual futures (use Hyperliquid)
- You value customer support
- You plan to use the centralized exchange
- You hold any funds on the platform long-term
Bottom Line: AscendEX isn't "dead" — the DEX still functions. But the company has destroyed user trust through frozen accounts, poor support, and withdrawal issues. The DEX infrastructure is sound (thanks to Orderly), but the brand is poison. Use Hyperliquid instead.
Frequently Asked Questions
Is AscendEX a scam?
AscendEX is a real company, not a pure scam. However, Trustpilot shows a 1.3/5 rating with hundreds of complaints about frozen accounts and inaccessible funds. Multiple users report being unable to withdraw for 18+ months.
Is AscendEX DEX safe?
The DEX uses Orderly Network infrastructure (legitimate) and self-custody (your wallet). Technically safer than the CEX. But if you need support, you're dealing with the same company.
What happened to AscendEX?
AscendEX suffered a $77.7M hack in 2021 (users were reimbursed). Since then, they've accumulated severe trust issues with frozen accounts, poor support, and controversial token delistings.
What's a better alternative?
Hyperliquid for perps ($32B+ daily volume, clean reputation). Jupiter for Solana perps. dYdX for another established option.
Is the ASD token worth buying?
ASD trades around $0.02, down ~95% from highs. Given the company's trust issues, we can't recommend it. This is not financial advice.
Disclaimer: Cryptocurrency trading involves significant risk. AscendEX has a documented history of user complaints about frozen accounts and withdrawal issues. This review is for educational purposes only — not financial advice. Only trade with funds you can afford to lose, and consider the platform's reputation before depositing.