FatManTerra, a well-known Twitter whistleblower, has accused Mark Lamb, the CEO of CoinFLEX, of secretly providing unsecured debt to prominent cryptocurrency investor Roger Ver. These allegations have sparked debate, with many questioning the ethics of such a move by a prominent figure in the cryptocurrency world. FatManTerra, who has a reputation for uncovering lousy behavior in the industry, made the accusations in a series of tweets.
Mark Lamb secretly gave out unsecured debt to Roger Ver using customer balances, plunging CoinFLEX into insolvency and costing users their accounts.
This same person is now partnering with Su Zhu to build an exchange that trades… Unsecured debt.
You just can't make it up.
— FatMan (@FatManTerra) March 26, 2023
Crypto CEO’s unsecured debt disaster
In a recent tweet, it was discovered that Mark Lamb’s covert decision to issue unsecured debt to Roger Ver using client funds forced CoinFLEX to go bankrupt, resulting in the loss of user accounts. It’s a shocking revelation that has shaken the cryptocurrency world and raised concerns about the ethics and transparency of those in positions of power.
As if that wasn’t enough, Lamb is cooperating with Su Zhu to build a new trading platform for unsecured debt, according to FatManTerra. “It’s incredible,” the user continued.
In a recent message, Su Zhu and Kyle Davies, co-founders of Three Arrows Capital, were accused of stealing and flight by a Twitter user. The person went on to say that the pair had taken from their real-life buddies. “Su Zhu and Kyle Davies took from their IRL buddies and bolted,” the tweet says.
Uncovering crypto’s dark side
The Twitter user, well-known for uncovering unethical behavior in the industry, ended his tweet thread with a warning to potential investors. Despite the negative press, he claimed that anybody who continues to invest in Lamb’s newly announced company, OPNX, “would just have themselves to blame.”
Three Arrows Capital (3AC) founders Su Zhu and Kyle Davies made news in February 2023 when they established Open Exchange (OPNX), a revolutionary new cryptocurrency exchange. OPNX, unlike any other exchange, enables users to trade claims against insolvent cryptocurrency corporations like Celsius, FTX, Voyager, and even 3AC. The 3AC founders collaborated with Mark Lamb, CEO of CoinFLEX, another renowned cryptocurrency exchange, to complete this breakthrough endeavor.