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Tag: CoinFLEX

February 2, 2024

OPNX, Linked to Three Arrows Capital Founders, to Shut Down Operations

OPNX, a cryptocurrency bankruptcy claims platform initiated by the founders of the now-defunct hedge fund Three Arrows Capital (3AC), has announced it will terminate all operations and close down by February 14th. In a communication to its users, the platform has urgently advised them to settle their positions by February 7th and ensure all funds are withdrawn before the February 14th deadline, after which the withdrawal functionalities will be permanently disabled.

January 28, 2024

Three Arrows Capital Co-Founder Enjoyed Prison Time Experience!

Su Zhu, co-founder of the defunct crypto hedge fund Three Arrows Capital (3AC), recently described his time in a Singapore prison as surprisingly positive. Released last month, Zhu shared video clips on X about his prison time. He characterized the experience as overall "enjoyable" and beneficial for sleep improvement. Zhu, arrested for non-cooperation in liquidation investigations, is now shifting focus to the new crypto exchange OPNX.

July 16, 2022

Struggling Crypto Exchange CoinFLEX Allows Partial Withdrawals!

CoinFLEX froze withdrawals three weeks ago due to an alleged loss with its client, the so-called Bitcoin Jesus Roger Ver. The crypto exchange announced that it had launched legal proceedings in Hong Kong to reclaim its $84 million from the Bitcoin Jesus. FinTelegram reported here. The Crypto Winter and its aftermath, along with the Roger Ver case, have apparently led CoinFLEX into a severe liquidity crisis, and it is unclear if or when this can be resolved. However, the crypto exchange announced that it is partially reopening user withdrawals. Stay very cautious!

July 11, 2022

Crypto Winter: Stressed CoinFLEX Sues ‘Bitcoin Jesus’ Over $84M Trading Loss!

CoinFLEX is the next crypto company to run into financial problems. The cause, according to the crypto exchange's account, is said to be an $84 million loss with its customer Roger Ver. CoinFLEX to sue Roger Ver for refusing to pay millions of dollars to CoinFLEX for a leveraged position that was liquidated. The crypto exchange paused withdrawals on its platform last month due to this huge loss and is looking for fresh money. Roger Ver denies the allegations and claims that CoinFLEX would owe him "a substantial sum of money."

Financial Intelligence Report: The Disappearance of Magua Pay, the High-Risk Payment Network of Moriel Carmi, and Regulatory Scrutiny

The recent disappearance of Magua Pay Inc. and its associated brand Black Rabbit raises serious concerns regarding the financial network behind high-risk payment processing, unauthorized financial services, and fraud facilitation. Magua Pay has long been identified as a facilitator of illegal gambling and broker scams

Breaking: Austrian Judicial Failure – OGH to Overturn Convictions in Europe’s Largest Cybercrime Case!

After years of investigations and legal proceedings, the Austrian judiciary has once again demonstrated its inefficiency in dealing with complex financial crimes. Despite overwhelming evidence and critical contributions from whistleblowers and FinTelegram, the Austrian justice system has failed to secure a solid conviction against two alleged masterminds behind the fraudulent broker scheme around the Bulgarian Tradologic.

Financial Analyst Update: Libra Token Scandal and New York Lawsuit

The Libra token ($LIBRA) scandal has escalated into one of the most significant cryptocurrency controversies of 2025, with a class-action lawsuit filed in New York spotlighting alleged misconduct by key players in the token’s launch. Here are the latest developments surrounding this debacle, including the legal action initiated by Burwick Law against Kelsier Ventures, KIP Protocol, and Meteora, as well as the broader implications for the crypto market and investors.

Urgent Warning: Beware of Suki Chen and the Streakk/Earn World Crypto MLM Schemes!

FinTelegram’s investigations, alongside whistleblower reports, reveal that Suki Chen (aka Sukijami Chendrawan) is the alleged founder of Streakk and successor scheme Earn.World. Both schemes are suspected to be pyramid or snowball schemes (MLM schemes) that have been promoting their own STKK token. These operations have been flagged as fraudulent and are under scrutiny for securities fraud and Ponzi-like activities.

Financial Intelligence Report: The Disappearance of Magua Pay and Black Rabbit – A High-Risk Payment Processor in the Scam Broker Ecosystem

Magua Pay Inc., a Vancouver-based money services business (MSB license M21111044) operating under the brand Black Rabbit, has vanished from the digital landscape as of March 2025. Both its primary website (magua_pay.com) and Black Rabbit’s site are either under construction or offline, signaling potential operational collapse or regulatory pressure. FinTelegram exposed Magua Pay as a payment facilitator of broker scams and unauthorized broker schemes,