CoinFLEX Accuses OPNX of Taking Assets for a Joyride Crypto Exchange Creditors Seek Justice

CoinFLEX Creditors Accuse OPNX Exchange of Misappropriating Assets

Creditors of the crypto derivatives exchange CoinFLEX are up in arms, claiming that the newly established creditor claims marketplace OPNX, created by the bankrupt crypto hedge fund Three Arrows Capital (3AC) co-founders Kyle Davies and Su Zhu, has wrongfully taken advantage of CoinFLEX’s assets without permission.

It’s like someone swiping your ice cream cone right out of your hand without even asking! These creditors have filed a lawsuit in the High Court of Hong Kong, alleging that OPNX, led by CoinFLEX’s ex-CEO Mark Lamb, has misappropriated assets, intellectual properties, and trade secrets. It’s a classic case of Robin Hood gone rogue!

According to the filing, Lamb diverted clients, business opportunities, and even had the audacity to poach employees and contractors for OPNX. Talk about sneaky! He’s like a sly fox leading everyone astray, while the creditors are left empty-handed.

But that’s not all, folks! Critics claim that Lamb went so far as to forge a fake non-disclosure agreement and misrepresented OPNX’s affiliation with CoinFLEX creditors. It’s like the saga of a master illusionist, making you believe in something that isn’t real. Abracadabra, your assets are now mine!

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And here’s the real kicker: Lamb managed to juggle his responsibilities at CoinFLEX while setting up OPNX. It’s like trying to pat your head and rub your belly at the same time, but with potentially disastrous consequences for everyone involved.

Now, to make matters worse, all this legal drama comes after the restructuring of CoinFLEX, which put a temporary hold on withdrawals. It’s like being stuck in a never-ending traffic jam on the highway of financial freedom. Frustration levels are at an all-time high!

But hold on to your hats, there’s a plot twist! After the restructuring was approved in early March, creditors discovered Lamb’s shenanigans and decided enough was enough. They whipped out their legal swords and filed the writ of summons, seeking justice for their grievances. The courtroom showdown begins!

Remember, folks, these are all allegations at this point. The High Court of Hong Kong will have the final say. The story is like a famous courtroom drama, with twists and turns at every corner. Will the creditors find justice or remain sidelined? Only time will tell.

Meanwhile, OPNX has come under fire from critics, including the likes of BitMEX co-founder Arthur Hayes. But fear not! OPNX defends its model, claiming it’s actually beneficial to the creditors. It’s like a pawnshop for claims, giving the creditors a chance to sell and regain some control in this chaotic digital landscape.

So, dear readers, fasten your seat belts and get ready for a rollercoaster ride. The world of crypto investments is always full of surprises. Who will emerge victorious in this battle of the blockchain? Only the future will unveil its secrets. Stay tuned!

Source: Original Article

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