Some claimants of bankrupt cryptocurrency exchange FTX are banking their hopes on recovering some money through a new venture set up by the co-founders of prominent bankrupt cryptocurrency hedge fund Three Arrows Capital (3AC).

Announced early Friday on Twitter, Open Exchange (OPNX) has received 2,000 sign-ups, most of whom are people with bankruptcy claims against Temasek-backed FTX.

The new platform, deemed highly risky and ridiculed on social media, is set up by 3AC co-founders Kyle Davies and Zhu Su, both of whom are Singapore citizens. They have joined the co-founders of restructured crypto exchange CoinFlex, Mr Mark Lamb and Mr Sudhu Arumugam, to set up this venture.

On its website, OPNX describes itself as the world’s first exchange for trading bankruptcy claims and crypto. It says it accepts users with claims against failed crypto entities, including BlockFi, Celsius Network, FTX, Genesis Trading, Mt Gox, Voyage Digital and 3AC.