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OX token plummets amid OX FUN extortion and insolvency of former 3AC founders rumors – TON BOT

OX token plummets amid OX FUN extortion and insolvency of former 3AC founders rumors

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OX.FUN, a crypto derivatives exchange involving Three Arrows Capital co-founders Su Zhu and Kyle Davies, faces allegations of financial misconduct after withholding $1 million from a user, JefeDAO. The controversy has negatively impacted the exchange’s OX token, down 35% in 24 hours. Extortion allegations and doubts about OX.FUN’s financial health have emerged, with reports suggesting low reserves and withdrawal outflows. Despite denying insolvency rumors, concerns over operational transparency remain.

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