Fix ZiloFix Zilo
    Facebook Twitter Pinterest
    Fix ZiloFix Zilo
    • Blog
    • How-To
    • Gaming
    • Gadgets
    • VPN
    Facebook Twitter Pinterest
    Fix ZiloFix Zilo
    Home » Singaporebased Ascendex 50m series capital hack

    Singaporebased Ascendex 50m series capital hack

    Steven SpielbergBy Steven SpielbergMarch 8, 2023
    Singaporebased Ascendex 50m series capital hack
    Singaporebased Ascendex
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Ascendex, a Singapore-based Cryptocurrency Exchange, Successfully Raises $50 Million in Series A Funding

    Cryptocurrency trading has become increasingly popular over the years, and Singapore has been at the forefront of this trend. Ascendex, a Singapore-based cryptocurrency exchange, recently announced that it has successfully raised $50 million in Series A funding. This is a significant milestone for the company, which aims to expand its global footprint and enhance its technology offerings.

    Background: Ascendex’s Journey in the Cryptocurrency Space

    Ascendex, formerly known as BitMax, was founded in 2018 and has quickly become one of the leading cryptocurrency exchanges in Asia. The exchange offers a range of trading services, including spot trading, margin trading, and futures trading. It also offers a variety of cryptocurrency pairs, including Bitcoin, Ethereum, and Litecoin.

    Ascendex has been able to achieve its success by offering its users a secure and user-friendly trading experience. The exchange has implemented advanced security measures, such as two-factor authentication and cold storage, to protect users’ assets. It also offers 24/7 customer support to ensure that users can get help whenever they need it.

    The Hack: A Setback for Ascendex

    In November 2019, Ascendex suffered a hack that resulted in the loss of 3,000 Bitcoin (worth approximately $20 million at the time). The exchange was quick to respond to the hack and reimbursed all affected users. It also implemented additional security measures to prevent similar incidents from happening in the future.

    The Series A Capital Raise: A Game-Changer for Ascendex

    Despite the setback, Ascendex has continued to grow and expand its offerings. In January 2021, the exchange announced that it had raised $50 million in Series A funding. The funding was led by some of the biggest names in the cryptocurrency industry, including Pantera Capital, Block.one, and Polychain Capital.

    The funding will be used to expand Ascendex’s global footprint and enhance its technology offerings. The exchange plans to launch new products and services, including a decentralized exchange and a mobile app. It also plans to expand its operations in key markets, such as the United States and Europe.

    The Future of Ascendex: Bright and Bold

    With the successful completion of its Series A funding, Ascendex is poised for even greater success in the cryptocurrency space. The exchange has proven that it is able to adapt and grow in the face of challenges, and its commitment to security and user experience has earned it a loyal following. With its expanded offerings and global reach, Ascendex is well-positioned to become a major player in the cryptocurrency industry for years to come.

    Steven Spielberg

    Steven is the writer and blogger of Fix Zilo who loves to write about tech and gaming. A blog that helps people solve their computer problems. When he's not writing, he's playing video games or watching TV. He is a big fan of science fiction and fantasy movies and books.

    Add A Comment

    Comments are closed.

    Our Picks
    How to Make a Graduation Memory Book
    March 23, 2023
    The Benefits and Challenges of Zero Trust Network Access
    March 22, 2023
    The Power of TikTok Songs: Melodies That Transformed the App and Beyond
    March 22, 2023
    What Are the Different Types of Moving Service?
    March 22, 2023
    Benefits Of Moving To Wheeling West Virginia
    March 20, 2023
    Don't Miss
    Gadgets

    Garmin Vivoactive 4 vs Apple Watch Series 7: Detailed Comparison

    By Steven SpielbergDecember 29, 20220

    WhatsApp Not Working On WiFi but Working on Mobile Data [Fixed]

    December 28, 2022

    Fitbit Sleep Mode: Everything You Need to Know

    January 19, 2023

    Should you Wear your Fitbit to Bed?

    January 10, 2023
    Fix Zilo
    Facebook Twitter Pinterest YouTube
    • About Us
    • Contact Us
    • Our Authors
    • Privacy Policy
    • Terms of Service
    Copyright © 2023 Fix Zilo - All rights reserved.

    Type above and press Enter to search. Press Esc to cancel.