Note on Incident of Abnormal Pricing For Post-Contract Migration Vulcan Forged (PYR)

Dear AscendEX Users,

Due to issues with the contract migration of Vulcan Forged (PYR), there was an abnormal price fluctuation on the PYR/USDT trading pair between 3:00 a.m. – 5:24 a.m. UTC on January 28th, 2022. This incident led to a small number of orders executing at prices well below the fair market price of $10.20 USDT.

In an effort to foster a fair and orderly marketplace, the AscendEX team has decided to reverse all of the orders executed between 3:00 a.m. – 5:24 a.m. UTC on January 28th, 2022 on PYR/USDT. 

Users that deposited PYR using the legacy contract for Vulcan Forged between 3:00 a.m. – 5:24 a.m. UTC on January 28th, 2022 can request to withdraw their PYR by contacting Support. These requests will be reviewed on a case-by-case basis: https://asdx.zendesk.com/hc/en-us/requests/new 

We will begin to reverse the necessary trades and subsequently re-enable PYR trading, deposits and withdrawals shortly.

For those users who were severely affected by this market incident, please contact Customer Support for review on a case-by-case basis: https://asdx.zendesk.com/hc/en-us/requests/new 

We apologize for the inconvenience and thank you very much for the support.

AscendEX Team

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