Cryptographer Nick Bougalis strongly criticized the latest cryptocurrency project by Su Zhu and Kyle Davis, the co-founders of failed cryptocurrency hedge fund Three Arrows Capital.
Ripple's former lead engineer accused Zhu and Davies of trying to "steal more money" with their latest venture.
"On the one hand, I can’t say I’m surprised: scammers gonna scam. But on the other hand, this is so far beyond insane that there’s no word for it," he added.
Bougalis went on to opine that "the hubris and arrogance" of the disgraced 3AC founders know "no bounds."The co-founders of the defunct cryptocurrency hedge fund, which went belly-up last year following the collapse of Terra, teamed up with CoinFLEX co-founders Mark Lamb and Sudhu Arumugam in order to secure $25 million for the new GTX exchange.
The new project is supposed to make it easier for the creditors of failed cryptocurrency exchanges, such as FTX, to get their hands on their funds.