ZachXBT: Reef founder and others suspected of large collateralized loans before OM collapse

According to Wu, ZachXBT posted on platform X, stating that multiple sources indicate that Denko, the founder of $Reef Finance, and user Fukogoryushu are suspected to be involved in the $OM flash crash incident. The two had made multiple requests to others for loans collateralized by $OM in the days leading up to the $OM collapse. Notably, the $Reef project had an $80 million over-the-counter transaction with Alameda in 2021 and was delisted by Binance in October 2024, amid previous controversies regarding market manipulation.