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OPNX token spikes 50% after Su Zhu unexpectedly posts a ‘gm’ on Twitter

The OX token hit a price high not seen since co-founder Su Zhu was arrested in late September.

Open Exchange Token (OX), the native token of the crypto bankruptcy claims platform OPNX, spiked 50% just 20 minutes after co-founder Su Zhu supposedly posted to X (Twitter) for the first time since his arrest.

On Dec. 29, the same day he was arrested at Singapore’s Changi Airport attempting to leave the country.

In the 20 minutes after Su’s X post, OX jumped nearly 50% to $0.021 and hit a 63-day high — a price not seen since the day of Su’s Sept. 29 arrest, according to CoinGecko data.

OX token price with a spike in the minutes after Su’s X post. Source: CoinGecko

Shortly after the price peak, OX retraced by around 6%.

Su was arrested on Sept.

The order was meant to see Su serve four months’ imprisonment — meaning he wouldn’t be released until next year, though some have speculated he may have been released after a wallet labeled "suzhu.eth" believed to belong to Su (though unconfirmed) — became active again on Nov.

OPNX, short for Open Exchange, is a platform allowing for the trade of creditor claims from bankrupt crypto companies.

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Ben Armstrong spends night in jail with prowling, simple assault charges

Crypto influencer Ben “BitBoy” Armstrong was released on bail around 8 hours after being booked by Gwinnett County police for loitering and simple assault.

Crypto influencer Ben Armstrong, formerly known as ‘BitBoy,’ reportedly spent the night in the slammer and has been hit with two charges following his conspicuous arrest. 

Armstrong, who was taken into custody on Sept. 25 while livestreaming outside a former associate’s house, spent a little over 8 hours in a cell according to the Gwinnett County, Georgia, Sheriff's Office.

The crypto influencer has been released on bail but has been hit with charges of “loitering/prowling” and “simple assault by placing another in fear,” with a bond amount of $2,600 along with $40 of fees.

Screenshot from Gwinnett County Sheriff's Office

In Georgia, loitering or prowling generally refers to when a person is “in a place at a time or in a manner not usual for law-abiding individuals under circumstances that warrant a justifiable and reasonable alarm or immediate concern for the safety of persons or property in the vicinity,” according to Georgia-based law firm Lawson & Berry. 

The consequences for a prowling and loitering misdemeanor include a fine of up to $1,000, or jail time of up to one year, or both, it added.

Meanwhile, simple assault can involve: “(1) attempt to commit a violent injury to the person of another, or (2) commit an act which places another in reasonable apprehension of immediately receiving a violent injury.”

Similar to loitering, a conviction for simple assault in Georgia is treated as a misdemeanor, though there can be certain situations where this is escalated, said the law firm.

Following his release, Armstrong appeared to mock his punishment stating, “My name is Ben and I’m a loiterer. I did 8 whole hours in the slammer,”

A few hours later he posted: “I’m taking a week's break from social media,” before adding “No, not because of the memes,” on Sept. 27. Armstrong’s mug shot has been doing the rounds on crypto social media.

Related: Ben ‘BitBoy’ Armstrong arrested on livestream over Lambo dispute

On the evening of Sept. 25, Armstrong went to the house of his former associate Carlos Diaz who he alleged had possession of his Lamborghini.

The livestream and general ranting went on for around 19 minutes before the local police turned up and arrested Armstrong.

Crypto trader “EmperorBTC” told his 360,000 X followers that the arrest “should be a lesson for everyone.”

The latest debacle is related to the ongoing dispute between Ben Armstrong and Hit Network which controls the “BitBoy Crypto" brand. The firm and its executives cut ties with Armstrong in August citing issues surrounding substance abuse and financial damage to employees.

Magazine: Get your money back: The weird world of crypto litigation

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Fugitive Crypto Exchange Founder Faruk Ozer Extradited to Turkey

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South Korean Court Denies Arrest Warrant for Terraform Co-Founder Daniel Shin

South Korean Court Denies Arrest Warrant for Terraform Co-Founder Daniel ShinA court in South Korea has again denied the arrest warrant for Daniel Shin, a co-founder of Terraform Labs who is being investigated for fraud. Shin has been accused of illegally profiting from the sale of over $100 million worth of the luna cryptocurrency before it collapsed. Seoul Court Leaves Terraform Co-Founder at Large Citing […]

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Do Kwon to Stand Trial in Montenegro, May Serve Time Before Extradition

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Do Kwon’s Extradition Likely to Take Time, Montenegrin Prosecutor Says

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Report: Terra Co-Founder Do Kwon Plans to Appeal Detention Extension After Arrest in Montenegro

Report: Terra Co-Founder Do Kwon Plans to Appeal Detention Extension After Arrest in MontenegroAccording to the Montenegro-based newspaper Vijesti, Do Kwon, the co-founder of Terraform Labs, also known as Kwon Do-hyung, is appealing the detention extension ordered by a Montenegrin court. Kwon was arrested on March 23, 2023, after being caught at Podgorica Airport in Montenegro while traveling with fraudulent identification documents. Report Says Kwon’s Legal Representation Aims […]

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Terraform Labs CEO Do Kwon Faces Extradition to South Korea

Terraform Labs CEO Do Kwon Faces Extradition to South KoreaAccording to a report published by AFP, Do Kwon, CEO of Terraform Labs, has been charged with document forgery in Montenegro. Kwon was arrested at the Podgorica airport while traveling with fake documentation. South Korean prosecutors have said the Terra co-founder faces extradition to South Korea. Montenegro Police’s Account of the Falsified Travel Documents Found […]

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Terraform Labs Co-Founder Do Kwon Arrested in Montenegro, Says Interior Minister

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Man faces arrest over alleged crypto mine hidden under a school

A former facilities worker in the U.S. state of Massachusetts is alleged to have stolen nearly $18,000 worth of electricity to run 11 miners in a school’s crawl space.

A former facilities worker who allegedly set up a secret cryptocurrency mining operation inside a Massachusetts school’s crawl space is due for arrest after missing a scheduled court hearing to answer to charges. 

Nadeam Nahas was scheduled to be arraigned on Feb. 23 facing charges of vandalizing a school and fraudulent use of electricity, according to media reports.

A default warrant is a type if warrant issued by courts when a person fails to appear in court or comply with an order, and authorizes law enforcement officers to arrest the person.

Nahas, who is said to have previously worked in the facilities department for the town of Cohasset, Massachusetts, United States, is alleged to have stolen electricity worth almost $18,000 in order to power his crypto mining operation in 2021, between April 28 and Dec. 14.

Local police were reportedly initially informed about the operation in December 2021 after Cohasset’s facilities director noticed computers, wiring and ductwork that seemed out of place given they were in a crawl space near the school’s boiler room.

A total of 11 computers were found there, and Nahas was identified as a suspect after a three-month investigation.

Nahas resigned from his position with the town of Cohasset in March.

Related: The economics of cryptocurrency mining: Costs, revenues and market trends

It is certainly not the first time someone has been charged with stealing electricity in order to mine cryptocurrency.

In July 2021, Malaysian officials destroyed $1.2 million worth of Bitcoin (BTC) mining rigs that were confiscated from residents who were stealing electricity to mine.

A year prior, in August 2020, Bulgarian authorities arrested two men for illegally siphoning off more than $1.5 million in electricity to operate two crypto mining farms.

Halving Milestone: Block 840,000 Mined, Ushering in a New Chapter as Bitcoin Miners Face Shrinking Rewards