The trading platform Ox.Fun, associated with the founder of the three arrows, Su Zhu, is said to have increased its supply of OX tokens from around 4 billion to around 9.8 billion without making an official announcement.
Following the collapse of Three Arrows Capital (3AC), Su Zhu faced imprisonment, further raising concerns about Ox.Fun's reliability. However, subsequent details provide additional context.
ox.fun increases the total supply of OX tokens
According to X's post, users have carefully accused OX. of increasing the total supply of OX tokens by around 4 billion to over 9.8 billion. Data from ox.fun's offiReputable blockchain analytics tools Cial Dashboard and Etherscan have verified the change.
Supply of cow tokens. Source: ox.fun
Additionally, according to a December 2024 post on Twitter from Ox.Fun, the original OX supply was verified as 4.2 billion people.
The increase in supply has yet to significantly affect the price of OX tokens at the time of this writing. However, Token's market capitalization skyrocketed from under $5 million to around $17 million. In other words, users said online that the project quietly inflated its value without formal announcement.
Market capitalization of OX tokens. Source: Coingecko
Many community members argue that increasing the supply of tokens without disclosure will demonstrate opaque behavior. They think it might be a rug pull signal.
Users also expressed their dissatisfaction with the lack of response from the project leader first.
“I love how @oxfunhq @zhusu remains silent about doubling the $ox circulation supply overnight. I think they simply wanted no one to notice.
ox.fun claims it has announced a surge in cattle supply
Ox.Fun ultimately responded to the charges, saying the increase had been previously disclosed. The project explained that on April 1, 2025, an increase in supply to 9.8 billion tokens was announced as part of the “OX Seasons” program. According to Ox.Fun, the OX season was announced through all social media platforms.
“Importantly, the token is locked to the Ox Treasury Multisig (0x4B214E2A2A9716BFF0C20C20C20EBDA912B13C7A184E23) and will only be distributed to users at the end of the seasonal program. The ox.fun mentioned
Allocating 6 billion additional OX tokens. Source: ox.fun
The team emphasized that the move is intended to ensure transparency and prevent future token creation by disabling the mint feature of smart contracts.
However, the community remains skeptical due to its slow communication and question whether it is as transparent as Ox.Fun claims.
Community skepticism continues, given that Su Zhu's reputation on Crypto Space has been undermined since the collapse of Three Arrows Capital (3AC). Furthermore, in February 2025, Ox.Fun had some issues with Jefedao. The platform later provided explanations, but these cases raised continued concerns about its financial stability.
Beef token price. Source: Beincrypto
Although the price of OX tokens has not experienced any major fluctuations following this event, small trading platforms like Ox.Fun are vulnerable to market sentiment.
