CoinFLEX CEO Accused of Giving Unsecured Debt to Prominent Investor

In a series of controversial tweets, FatManTerra, a notorious whistleblower on Twitter, has accused Mark Lamb, the CEO of cryptocurrency futures exchange CoinFLEX, of secretly giving unsecured debt to Roger Ver, a prominent cryptocurrency investor.

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

According to the tweet, Lamb’s actions led to the insolvency of CoinFLEX and caused its users to lose their accounts.

Mark Lamb secretly gave out unsecured debt to Roger Ver using customer balances, plunging CoinFLEX into insolvency and costing users their accounts.

FatManTerra didn’t stop there and went on to claim that Lamb is now teaming up with Su Zhu to build a new exchange that will trade unsecured debt. The user added, “You just can’t make it up.”

In another tweet, the user has even gone as far as accusing Su Zhu and Kyle Davies, co-founders of the bankrupt cryptocurrency investment firm Three Arrows Capital, of stealing from their real-life friends and running away. “Su Zhu and Kyle Davies stole from their IRL friends and ran,” the tweet reads.

The Twitter user who is known to expose unsavory behavior in the industry ended his tweets with a warning to potential investors, stating that anyone who falls for Lamb’s newly announced venture, referred to as OPNX, after knowing all of this, “kind of deserves it.”

In early February of this year, Su Zhu and Kyle Davies, the founders of Three Arrows Capital (3AC), made a bold move by launching a new cryptocurrency exchange, Open Exchange (OPNX). This exchange will enable users to trade claims against bankrupt cryptocurrency firms such as Celsius, FTX, Voyager, and 3AC itself. To make this venture possible, the founders of the defunct cryptocurrency hedge fund have partnered with Mark Lamb, who is the CEO of CoinFLEX, another cryptocurrency exchange.

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