The cryptocurrency derivatives and claims trading platform Open Exchange (OPNX) will be shutting down this month.In a message shared with users on social media platform X, the OPNX team stated that the platform "will officially cease operations and shut down in February 2024. We are committed to ensuring that all users are closed in an orderly manner." The company stated that users should settle all positions by 8:00 AM (UTC) on February 7th, after which the platform will automatically settle any open positions. Users must withdraw funds and export their historical data by February 14th.

OPNX's iterative product OX.FUN posted on the X platform that the platform has deposited a total of 500,000,000 OX, with a 78% increase on the same day.

The co-founder of The Block, Mike Dudas, announced that the lawsuit filed against him by OPNX has been resolved through a settlement agreement. (Coindesk) Previously, in June of this year, OPNX accused Mike Dudas of making defamatory comments about the company between February and March of 2023.

On November 10th, Open Exchange (OPNX), a platform for crypto claims and trading, announced that they have frozen all 197,756,563 OX tokens (approximately $2.72 million) suspected to be from the Poloniex hack with the address starting with 0x0A59. These tokens can no longer be transferred or sold.

OPNX has obtained a virtual asset service provider license from Lithuanian authorities, allowing it to offer spot trading services throughout the European Union. The license signifies OPNX's commitment to regulatory compliance and adherence to the highest security standards. While additional licenses may be necessary for certain EU jurisdictions, OPNX is pursuing them to ensure comprehensive service availability. Despite past controversies, OPNX is determined to redefine its narrative and provide a reliable pathway for bankruptcy creditors to liquidate claims efficiently.

The cryptocurrency exchange OPNX has obtained a Virtual Asset Service Provider license (VASP) in Lithuania, allowing it to provide spot cryptocurrency trading services throughout the European Union. With further licenses, other services will also be available.OPNX CEO Leslie Lamb stated, "This license allows us to provide services to the European region, but there are specific jurisdictions within the EU that require specific licenses to operate certain services."

On October 31, Leslie Lamb, CEO of Open Exchange (OPNX), issued an open letter stating that OPNX has made a tender offer to CoinFLEX creditors. Accepting parties will receive a total of 25% equity in OPNX and will be proportionally allocated based on their debt size. Creditors who do not accept the offer will receive nothing. In addition, the open letter states that CoinFLEX creditors who accept the offer will collectively receive up to 1 billion OX based on their collective preferences through their OPNX accounts or through automated DeFi platforms such as LlamaPay in a trustless manner, and will have the right to exercise their options within ten years. <br>

On October 30th, according to court documents cited by CoinDesk, OPNX "voluntarily terminated" the defamation lawsuit against The Block founder Mike Dudas on October 27th.

On October 26th, CoinDesk reported that the creditors of cryptocurrency trading platform CoinFLEX have sued CoinFLEX CEO Mark Lamb, accusing him of violating his fiduciary duties at CoinFLEX when launching OPNX, which later changed its name to OPNX. In documents submitted to the Hong Kong civil court on October 12th by CoinFLEX creditors, OPNX was referred to as a "competitive enterprise" of CoinFLEX. OPNX was not authorized by CoinFLEX's board of directors or creditors, and Mark Lamb misappropriated the company's intellectual property, technology, customer base, and employees to establish the trading platform.

October 23, the encrypted claims and trading platform Open Exchange (OPNX) stated on social media that the total trading volume of the platform has reached 10 billion US dollars.