Su Zhu-backed crypto exchange OX.FUN under scrutiny over insolvency claims

Ox.fun, an exchange of PERPS hybrid crypto supported by the co-founders of the Capital Coverage Fund of three arrows, is under control because the data suggests that it mainly holds its own beef token.

Crypto gamified exchange ox.fun derivatives, which lists Capital of three arrows The co-founder on Zhu as an advisor, withdraws against the accusations of his insolvency, affirming in an X post that the artist Nft Jefedao tries “a social media campaign” in order to trigger a “coordinated fud”.

In A post X On February 24, Ox.fun denied insolvency complaints, declaring that “all withdrawals are treated normally”. The exchange also accused Jefedao of having tried to exploit the platform, saying that its funds were frozen due to violations of its service conditions.

The dispute started when Jefedao said that one of its members has deposited $ 1 million in USD room (USDC) in ox.fun but could not withdraw funds. The founder of Ox.fun, Nicolas Bayle, took a short time after X to say that Jefedao embarked on an “Oracle manipulation attack”, placing important limit orders below fair market prices and will close the short positions at lower levels.

However, Jefedao refuted allegations. The artist also said that Bayle had proposed to return the funds in exchange for the daily promotion of platform’s social media.

“I literally know that it is 100% fraud only on the fact that it is very unusual and suspect for an exchange of requesting the promotion of their social media accounts as a condition for returning someone’s funds.”

Jefedao

The Coinbase of the Conor Grogan product Suggest in a x thread Oxide oxidat portfolios mainly contain its own beef chips. He added that if the platform processes a withdrawal awaiting $ 1 million USDC dollars, its USDC balance would fall to $ 1,000.