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