TechFlow news — Cryptocurrency exchange AEX has released an announcement stating that withdrawal delays are due to short-term liquidity issues arising from medium- and long-term asset allocations being temporarily unredeemable. AEX explained that USDT and USDC assets previously staked in yield farming on Curve were partially affected by the collapse of UST. Additionally, valuation drawdowns at third-party quantitative institutions, along with delayed repayments from mining equipment pre-sales and collateralized lending customers, have collectively caused a temporary shortage of liquid funds.
AEX stated that its total assets remain sufficient to meet all user redemption demands. However, certain medium- and long-term allocated assets cannot be quickly liquidated. The platform has already begun adjusting its asset structure and will work to resume normal operations as soon as possible. To prevent a run on the exchange, AEX will suspend withdrawals for select cryptocurrencies—including Bitcoin, Ethereum, USDT, and USDC—for 36 hours, during which it will implement a new response plan.
