Shocking Revelations: OX.FUN’s $1 Million Mystery and the FUD That Shook Crypto!

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In the dimly lit corridors of the digital marketplace, where fortunes are made and lost with the flick of a finger, the crypto exchange OX.FUN has emerged from the shadows, clutching its pearls and addressing the swirling rumors of insolvency. Ah, the sweet scent of panic! Nearly $1 million USDC, they say, lies frozen in the icy grip of uncertainty, while whispers of a mass exodus of funds echo like the ghostly wails of a long-forgotten tragedy. Yet, in a bold proclamation, the exchange declares that all withdrawals are processing normally, dismissing the chatter as nothing more than “co-ordinated FUD.” How quaint! 😏

OX.FUN Bursts Myth of Exchange Hack

Earlier today, the social media platform X buzzed with the fervor of a thousand bees, as discussions erupted regarding the alleged demise of OX.FUN. The specter of insolvency loomed large, casting a pall over the digital realm, while reports of $1 million in USDC being frozen sent shivers down the spines of the unsuspecting. Oh, the drama! 🎭

Several employees, perhaps with a hint of melodrama, reported that the platform had succumbed to insolvency, a fate sealed by the massive withdrawal of funds by its users. The remaining liquidity, they lamented, had dwindled to a mere $180,000. This announcement, of course, came at a time when the crypto exchange Bybit was reeling from a severe hack, losing Ethereum as if it were mere pocket change. How poetic!

In a desperate attempt to manage this crisis, the beleaguered team was said to be “triaging” the remaining funds, as if they were doctors in a war zone. Yet, OX.FUN, with a flourish of bravado, claimed that no users, save for the infamous JefeDAO, were affected by this financial tempest. The platform accused JefeDAO of attempting to exploit the system, a villain in this tragicomedy. In an official statement, they proclaimed:

“All withdrawals are processing normally. This is coordinated FUD. No users were affected by the actions of JefeDAO aside from JefeDAO. He attempted to exploit the platform, got all of his funds frozen, and now is attempting a social media campaign.”

Crypto Exchange Pins Blame on JefeDAO

In a twist worthy of the finest Russian literature, OX.FUN has issued a detailed statement, casting the blame squarely upon JefeDAO, accusing him of executing an oracle manipulation attack. According to the exchange, on the fateful day of February 14, 2025, JefeDAO made a $1 million USDC deposit, only to unleash chaos shortly thereafter, selling the token JAILSTOOL with the fervor of a man possessed.

Furthermore, the exchange asserted that Jefe, in a fit of greed, placed large limit orders below the fair price—$600,000 worth at $0.048 and additional orders at $0.045, all while the token’s fair price danced around $0.05. The result? A market price plummeting below $0.04, allowing JefeDAO to close his short positions at a low of $0.034. Oh, the audacity! 😱

“This behavior is explicitly against our Terms of Service and goes against the interest of other users on OXFUN,” the statement read, dripping with indignation.

As the crypto market continues to swell, so too does the number of hacks, each more audacious than the last. Just last year, in 2024, WazirX reported the largest hack, losing more than $235 million in user funds. Truly, a tale for the ages!

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2025-02-24 08:38