OPNX, founded by 3AC executives, is shutting down: "Withdraw your money"

OPNX, founded by Su Zhu and Kyle Davies, which disappeared for a long time after the bankruptcy of Three Arrows Capital (3AC) and emerged at the end of 2022, was also short-lived.

OPNX, which was opened to trade the debts of bankrupt crypto companies, announced yesterday evening that it will close after a period of about a year. It was also noteworthy that the company did not give a reason for the closure.

They gave it 2 weeks

In a statement, customers were asked to close their positions by 11 a.m. CET on Feb. 7 and withdraw their assets by Feb. 14. This period also drew reactions, especially on social media.

On the first day of the stock market, which officially started trading in April last year, the trading volume remained at only 2 dollars. The company stated that this was due to the fact that it is not a market maker for the exchange.

Su Zhu was detained at the airport in Singapore in September and later remanded in custody.

Zhu and Davies' assets of about $1 billion were also frozen by a court in the Virgin Islands.

It is still unknown which country Kyle Davies is in.

In a broadcast in 2022, the duo stated that they did not say where they were due to the danger to their lives.

Published: February 2, 2024 09:43