NFT News by Thebittimes.Com

Open Exchange (OPNX), the crypto currency derivatives and bankruptcy claims platform founded by Su Zhu and Kyle Davies, the duo behind the now-bankrupt hedge fund Three Arrows Capital (3AC), will shut down this February. In an email sent to customers, OPNX advised users on the necessary actions to take before the exchange closed down, which included settling all positions by Feb. 7, 2024, and withdrawing all their assets from the platform by Feb. 14, 2024. OPNX shutting down pic.twitter.com/BIRBX3uiBV — Cole (@cole0x) February 1, 2024 Reasons for the closure were not mentioned in the announcement. “We are deeply thankful to each member of the OPNX community for their dedication and trust. As we conclude this chapter, we cherish the experiences shared and look ahead with gratitude.” OPNX’s email to users OPNX links and troubled past OPNX was established by Su Zhu and Kyle Davis in conjunction with CoinFLEX, and launched in April 2023. Notably, Zhu and Kyle a...

Following a failed short attack, DeFi exploiter Avraham Eisenberg was liquidated from Aave at a loss of $10 million. According to a new post on Jan. 26, Marc Zeller integrations lead at decentralized finance (DeFi) lending protocol Aave stated that the firm purchased 2.7 million Curve (CRV) tokens which would clear "excessive remaining bad debt" within the next 15 hours over a dozen transactions. The move follows the community approval of Aave Improvement Protocol (AIP) 144, which deployed a swap contract that acquires 2,700,000 units of CRV, with a USDC spend limit of $3,105,000 and max unit value of $1.15 per CRV token. The bad debt on the Aave protocol resulted from a sophisticated exploit that took place on Nov. 23. Avaraham Eisenberg, who previously drained DeFi protocol Mango Markets and caused $47 million in net damages, took on a series of heavy volume short CRV positions on Aave in an attempt to orchestrate a short squeeze and force developers to buyback his posi...