Su Zhu-backed crypto exchange OX.FUN under scrutiny over insolvency claims
OX.FUN, a hybrid perps crypto exchange backed by co-founders of the failed Three Arrows Capital hedge fund, is under scrutiny as data suggests it holds mostly its own OX token.
Gamified crypto derivatives exchange OX.FUN, which lists Three Arrows Capital co-founder Su Zhu as its advisor, is firing back against accusations of its insolvency, saying in an X post that NFT artist JefeDAO is attempting “a social media campaign” in a bid to trigger a “coordinated FUD.”
In an X post on Feb. 24, OX.FUN denied insolvency claims, stating that “all withdrawals are processing normally.” The exchange also accused JefeDAO of attempting to exploit the platform, saying his funds were frozen due to violations of its terms…
