Ox.fun's OX Token Supply Surges 145% Amid Community Outrage

Ox.fun, a cryptocurrency trading platform, has recently come under intense scrutiny due to a significant increase in the supply of its native token, OX. The supply of OX tokens has surged from approximately 4 billion to nearly 9.8 billion, a move that has sparked widespread concern and criticism within the cryptocurrency community. This drastic change was confirmed through Ox.fun’s official dashboard and Etherscan, a reputable blockchain analytics tool, leading to outrage among community members who felt that the increase was executed without appropriate disclosure.

The sudden supply increase has resulted in a dramatic surge in the token’s market capitalization from under $5 million to around $17 million. This has raised alarms among investors who believe the inflation was carried out without sufficient transparency. Critics of the project have pointed to the opacity of the supply increase as a potential red flag, suggesting that such actions without formal announcements are often indicative of possible malicious activities, such as a rug pull.

Users have taken to social media to voice their frustration, lamenting the lack of communication from Ox.fun’s leadership. One user remarked, “I love how @OXFUNHQ continue to be dead silent about doubling the circulating supply of $OX overnight. I sincerely think they were just hoping that simply no one would notice. True regards,” highlighting the growing distrust. The community’s concerns are further amplified by the controversial past of Su Zhu, a figure linked to the collapse of Three Arrows Capital (3AC), and recent issues with JefeDAO, which have raised questions about the platform’s market stability.

In response to the escalating backlash, Ox.fun clarified that the supply increase was partially disclosed on April 1, 2025, under the initiative dubbed the “Ox Seasons” program. The trading platform asserted that this announcement was shared across all major social media channels. “Importantly, the tokens are locked in the OX treasury multisig and will only be distributed to users at the end of the Seasons program, exactly as outlined in our docs,” according to a statement from Ox.fun. The project’s team emphasized the necessity of this supply adjustment, explaining that disabling the smart contract’s mint function was intended to foster transparency and prevent further token minting.

Despite these assertions, skepticism within the community remains, primarily due to a perceived delay in communication from the project’s leadership. While OX token prices have not shown extreme fluctuations in the aftermath of these events, platforms with limited market reach like Ox.fun often remain sensitive to overall market sentiment. The significant increase in the OX token supply, along with the underlying controversies surrounding Ox.fun and its leadership, raises critical questions about transparency and investor trust in the platform. As stakeholders await further developments, maintaining a vigilant approach remains paramount for those involved in the cryptocurrency ecosystem.