TechFlow reports that on February 24, Coinbase executive Conor Grogan disclosed that OxFun, the cryptocurrency exchange founded by Zhu Su, currently holds only about $1.7 million in assets other than its OX token. After processing pending $1 million USDC withdrawal requests, its USDC balance will drop to approximately $1,000.
Analysis shows that all of the exchange's ETH Gnosis Safe wallets have been emptied, and on the Solana chain, only two wallets remain with a combined value of less than $1 million, primarily holding FWOG and SLERF tokens. The exchange is currently withdrawing liquidity pool positions, selling SOL for USDC, while simultaneously purchasing OX tokens.
Add to Favorites
Share to Social Media
