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The exchange provided specific details about the alleged manipulation attempt. They stated that JefeDAO placed $600,000 worth of orders at $0.048 and additional orders at $0.045 when the token’s market price was $0.05. OX.FUN claims this activity drove the price below $0.04, allowing JefeDAO to close short positions at $0.034. A dispute over a frozen $1 million deposit has sparked concerns about the financial health of crypto exchange OX.FUN, a platform backed by Three Arrows Capital co-founder Su Zhu. The controversy began when NFT artist JefeDAO reported that one of its members could not withdraw their USDC deposit from the exchange. I’m Verica Gavrillovic, a Content Editor at Kiwi Box, with over 3 years of experience in marketing.
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