A viral post on X earned hundreds of thousands of impressions with the allegation that BullX, a multi-blockchain cryptocurrency exchange, “called it quits.” A critic claimed its CEO deleted his Telegram account, underpaid influencers for referrals, and delayed withdrawal requests.
BullX is a trading system that allows users to execute trades across several so-called decentralized exchanges (DEXs). BullX emphasizes Solana DEXs but supports several other blockchains and layer 2s.
Certain facts are true. BullX has not posted anything on its X account since February 9. There is also contention by several influencers within the X thread about referral payouts.
However, the CEO responded to the viral tweet, indicating that he is continuing to respond on social media. Moreover, and although claims about underpayment for referrals continue, the exchange seems to be fully operational.
A dashboard of BullX volume shows tens of millions of dollars in continued trading activity over the past few days, in line with recent averages.
Despite claims of an exit scam, Protos staff was able to access the exchange’s Discord server, which is still listed on BullX’s social media and the footer of its homepage. The server still had active conversation within the past hour, including posts by moderators.
Via Discord, questions continue to earn responses by moderators within a few minutes.
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BullX also lists its Telegram bot as a purposefully automated support channel alongside Discord.
A status checker shows BullX services operational across six blockchains.
Although users thought it was suspicious that BullX CEO Blitz deleted his Telegram account and promoted a non-human support bot, there is little indication that the exchange has “called it quits.”
Protos was unable to verify any allegations of BullX’s underpayment of influencers for their customer referrals.
