Open Exchange Token (OX), the native token of bankruptcy claims crypto platform OPNX, soared 50% just 20 minutes after co-founder Su Zhu reportedly posted on X (Twitter) for the first time since his arrest.
On December 1, Su posted a simple "gm," an abbreviation for "good morning," marking his first X post since September 29, the same day he was arrested at Singapore Changi Airport trying to leave the country.
GM
โZhu Su (@zhusu) December 1, 2023
In the 20 minutes after Su posted on data.
Shortly after the price spike, OX retreated by around 6%. Its market capitalization now stands at more than $104.5 million.
Su was arrested on September 29 while trying to leave Singapore following a court order jailing him for contempt of court.
The order was intended to have Su serve four months in prison, meaning he would not be released until next year, although some have speculated that he may have been released after a tagged wallet "suzhu.eth" โ believed to belong to Su (although not confirmed) - become active again on November 29.
OPNX, short for Open Exchange, is a platform that enables trading of creditor claims of bankrupt crypto companies.
Related: CoinFLEX Creditors Dissatisfied with OPNX Restructuring: Report
His and co-founder Kyle Davies founded the exchange following the bankruptcy of their $10 billion Singapore-based crypto hedge fund, Three Arrows Capital (3AC). that was bent in June 2022.
Su and Davies initially fled Singapore after the collapse of 3AC. His returned and Davies is believed to reside on the Indonesian island of Bali.
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