PANews reported on May 8 that according to Beincrypto, Ox.fun, a trading platform associated with Su Zhu, the founder of Three Arrows Capital, was accused of increasing the total amount of OX tokens from 4.2 billion to 9.8 billion without prior notice. Blockchain data shows that the operation caused the token market value to jump from less than $5 million to about $17 million, raising questions in the community about the transparency of the project. The Ox.fun team responded later that the additional issuance was disclosed on social media through the "Ox Seasons" plan on April 1, 2025, and the additional 6 billion tokens will be locked in multi-signature wallets and gradually distributed to users as planned. The team emphasized that the contract casting function has been disabled to ensure transparency. However, the community still questioned its communication lag, and some users believed that this move posed a risk of "soft rug pull".
It is worth noting that Su Zhu’s reputation was damaged due to the bankruptcy of Three Arrows Capital, and Ox.fun had a dispute with JefeDAO in February 2025. Although the platform has made an explanation, the series of events continue to raise concerns about its financial stability.
