Open Exchange Token (OX), the native token of bankrupt platform OPNX, reportedly surged 50% in just 20 minutes after co-founder Su Zhu posted on Twitter for the first time since his arrest.
On Dec. 1, Su posted a simple "gm" (short for "good morning"), his first X-post since Sept. 29, the same day he was arrested at Singapore's Changi Airport while trying to leave the country.
According to CoinGecko data, within 20 minutes of Su’s post, OX rose nearly 50% to $0.021 and reached a 63-day high, a price not seen since the day of Su’s arrest.
After reaching its price peak, OX immediately dropped by about 6%. Its market cap currently stands at over $104.5 million.
On September 29, Su was arrested while trying to leave Singapore and the court ordered him to be jailed for contempt of court.
The order is intended to force Su to spend four months in jail, meaning he would not be released until next year, though some have speculated he may have been released after a wallet labeled “suzhu.eth” — believed to belong to Su (though not confirmed) — became active again on November 29.
OPNX, short for Open Exchange, is a platform that allows the trading of creditors’ claims of bankrupt cryptocurrency companies.
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