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Reported by Cointelegraph, Crypto bankruptcy claims platform OPNX — launched by the co-founders of failed hedge fund Three Arrows Capital — has announced that it will officially cease all operations and shut down by Feb. 14.
In an email to exchange users, OPNX “strongly advised” its users to settle all positions by Feb. 7 and withdraw their funds from the platform by Feb. 14. Following this date, all withdrawal functionality will be disabled.
OPNX, short for Open Exchange, is a hybrid bankruptcy claims platform and crypto exchange that allows users to trade creditor claims of bankrupt crypto companies.
Su Zhu and co-founder Kyle Davies founded the exchange following the bankruptcy of their $10 billion Singapore-based crypto hedge fund Three Arrows Capital (3AC) — which folded in June 2022.
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