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Crypto Derivatives Exchange OPNX to Halt Operations in February

Twitter icon  •  Published 10 months ago on February 2, 2024  •  Hassan Maishera

Crypto derivatives exchange OPNX has informed its users that it would halt operations this month and users have until Feb. 14 to withdraw their funds.

Crypto Derivatives Exchange OPNX to Halt Operations in February

TL;DR

  • Crypto exchange OPNX will shut down operations this month.

  • Users will need to settle their positions before February 8th and withdraw their funds before the 14th.

OPNX Shuts Down

Crypto derivatives and claims trading platform Open Exchange (OPNX) has informed its users that it would halt operations this month. 

In a message to its users, the OPNX team the crypto exchange will officially cease operations and shut down in February 2024. The exchange said users should settle all positions before Feb. 7 at 8. a.m. UTC (3 a.m. ET), after which the platform will automatically settle any open positions.

Furthermore, users have until Feb. 14 to withdraw funds and export their historical data. The cryptocurrency exchange is affiliated with Kyle Davies and Su Zhu, the co-founders of the bankrupt crypto lender Three Arrows Capital. The team said,

"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 rebranded from Coinflex but rebranded in March 2023.

 

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.