Dubai Regulator Imposes Fines on 3AC Founders Linked to OPNX Exchange

The Dubai Virtual Assets Regulatory Authority (VARA) has levied substantial fines against individuals connected to the Crypto bankruptcy claims exchange OPNX. This action places Kyle Davies and Su Zhu, founders of the now-defunct digital asset hedge fund 3AC, found themselves under scrutiny from Dubai’s Virtual Asset Regulatory Authority, and OPNX co-founder Mark Lamb and Chief Executive Officer Leslie Lamb in the spotlight.

In one of the most recent updates, the founders of 3AC are facing fines from the Dubai regulators at VARA. These penalties stem from alleged regulatory violations linked to the operation of the OPNX exchange. The Dubai Virtual Assets Regulatory Authority has levied charges after the 3AC co-founders, alongside OPNX co-founder Mark Lamb and Chief Executive Officer Leslie Lamb. The imposed fines total nearly $2.7 million.

Key Players Involved: Kyle Davies, Su Zhu, Mark Lamb, and Leslie Lamb

Crypto bankruptcy claims exchange OPNX, its founders Kyle Davies, Su Zhu and Mark Lamb and CEO Leslie Lamb have been fined nearly $2.7 million by Dubai’s Virtual Assets Regulatory Authority. The focus is primarily on Kyle Davies and Su Zhu, the minds behind the collapsed 3AC hedge fund, whose involvement with OPNX has drawn increased regulatory attention. This regulatory action raises questions about the future of OPNX and the continued operation of cryptocurrency businesses within Dubai.

Stay updated on this developing story as we provide further information on the fines imposed by the Dubai regulator on 3AC founders and the impact on the OPNX exchange.