Crypto Exchange OX. FUN Dissuages Extortion Allegations Despite Liquidity Problems

Crypto transfer OX After X communications were shared suggesting FUN had agreed to conditionally return$ 1 million in frozen person cash in exchange for good social media promotion, it is battling claims of blackmail.

The artist shared JefeDAO allegedly shared immediate messages on social media that apparently show that an OX. As long as the affected person and others delete negative articles, a FUN member will provide a structured payment plan of$ 200, 000 per month for five months. Additionally, the congressman requested OX-related content. FUN program.

” This is blackmail”, said the artist collective, JefeDAO. After being accused of market adjustment, the group claimed the trade frozen the money.

OX. FUN contends that the group violated its terms of service by aggressively selling Jailstool tokens, the joke gold promoted by Barstool Sports creator Dave Portnoy.

Neither Ox. joy nor JefeDAO responded to a request for comment from&nbsp,

The person made his very first deposit of$ 1,000,000 on February 14 and immediately began aggressively selling JAILSTOOL,” according to OX. In a speech on X, FUN referred to trades that reportedly caused prices to drop before Jefe” closed short positions quickly at as low as 0.034.”

OX. The trade “is holding$ 1, 000, 000 USDC without any information beyond their promises,” according to FUN’s declaration, which was posted on X with a group statement that read “uses the funds for extortion” and” may be treated with caution without proof.”

Community information on X appear” when rated good by people”, according to the Elon Musk-owned system’s information.

The debate has raised broader worries about the bank’s financial health.

Conor Grogan, an on-chain scientist and Coinbase producer, asserts OX. Outside of its native key, FUN holds less than$ 1.7 million in liquid assets. He was citing a platform from Arkham Intelligence.

repeatedly asked for reply, but neither Grogan nor Zhu responded.

Grogan pointing out that OX is the source of the discussion has garnered market attention. Zhu Su, the co-founder of the unsuccessful hedge fund Three Arrows Capita (3AC ), has strong ties to FUN.

According to a report from in the first 2024, Zhu Su and 3AC co-founder Kyle Davies were involved in the development of OX. FUN, with said system using the same OX currencies as OPNX, their past opportunity.