Controversy Around Pond0X DEX as Critics Claim $100M Volume is Scam Despite Supporters' Defense

Pond0X DEX claims to have reached over $100M in trading volume, but critics allege it is a scam
Investors previously lost $2M when PNDX token allowed anyone to transfer it without owner's permission
Supporters claim developer not at fault for investor losses
Token launched in July in unorthodox way, leading to accusations of rug pull/exit scam
Despite criticisms, Pond0X continues to have supporters claiming it is the best DEX

cointelegraph.com

Relevant topic timeline:

9/8/2023

Brine Fi Raises $16.5M for Decentralized Crypto Exchange Offering Privacy and Front-Running Protection

Brine Fi, a decentralized crypto exchange (DEX), has raised $16.5 million in Series A funding at a valuation of $100 million, attracting investor interest due to its orderbook-based system and privacy features, as well as the recent scrutiny faced by centralized exchanges. The DEX aims to combine the benefits of a DEX and a centralized exchange (CEX) by offering features such as an orderbook and zero-knowledge proof technology to prevent frontrunning. Brine Fi is targeting both retail and institutional traders and plans to comply with potential regulatory requirements in the future.

9/13/2023

Report: Wash Trading Rampant in Decentralized Crypto Markets, Distorting Billions in Volume

Over $2 billion worth of crypto has been manipulated through wash trading on Ethereum-based decentralized exchanges (DEXs) since 2020, according to Solidus Labs, with over 20,000 tokens being affected.