OLX on XRPL - Rug pull suspicions shake the community

OLX: Massive Token Sell-Off, Price Collapse (-80%), and Questions Surrounding the DEV Wallet

A case raising numerous questions within the XRPL community

On June 29, 2026, Crypto Oli, creator of the OLX and CFH projects on the XRP Ledger, publicly announced that his OLX development wallet had allegedly been compromised.

In his emergency message, he stated that he had discovered the disappearance of:

• More than 3.5 million OLX tokens
• Approximately 14,000 XRP, which according to him were intended to be reinjected into liquidity pools

He nevertheless clarified that:

• The CFH DEV wallet was reportedly not affected;
• The project’s NFTs appeared to remain secure;
• An investigation was underway to determine the origin of the incident.

The announcement immediately triggered a strong reaction from the community, as the blockchain movements observed had a direct impact on the OLX market.

A Major Movement Visible on the XRP Ledger

Public XRP Ledger data shows a significant operation originating from the DEV wallet involved.

One transaction in particular appears:

Type: OFFER CREATE
Date: June 29, 2026 at 00:13 UTC
Transaction:
1E19774A238BD0F93360545DB50D6081F3DDF1E07E50AC192E776DAAE7F225D3

Amount involved:

3,713,397.709999 OLX

On the XRP Ledger, an "Offer Create" transaction corresponds to the creation of an exchange order on the decentralized market.

In this specific case, placing such a large quantity of tokens for sale represents significant selling pressure, particularly for an asset with limited liquidity.

A Significant Drop in the OLX Price

Following this operation, the price of OLX dropped sharply.

For many holders, the situation became concerning:

• A large amount of tokens entered the market
• Available buyers were unable to absorb the supply
• The price declined rapidly
• Investors saw the value of their positions decrease

Some members of the community then began using the term "rug pull."

However, it is important to distinguish facts from interpretations.

The blockchain allows observers to confirm:

✅ That a massive amount of OLX was placed on the market;
✅ That this operation had a negative impact on the price;
✅ That funds moved away from the DEV wallet.

However, the blockchain alone cannot prove the intention behind this operation.

A "rug pull" generally implies a deliberate action intended to abandon a project or deceive investors. At this stage, such a conclusion cannot be confirmed without additional evidence.

The Central Question: Was It Actually a Hack?

Crypto Oli claims that the DEV wallet was compromised.

However, several community members are requesting information that would allow this claim to be verified.

The main questions being raised are:

• Who actually controlled the wallet at the time of the transactions?
• How did the alleged compromise occur?
• Which address was responsible for the operation?
• Do the wallets that received the funds actually belong to an attacker?

These questions are important because a transaction made from a wallet does not automatically prove that an external hacker was responsible.

On a public blockchain, transactions are visible, but the identity behind an address must be demonstrated through additional evidence.

The Main Request From Investors: Publish the Wallet Addresses Involved

One point repeatedly appears in community discussions:

The publication of the wallet addresses involved.

Crypto Oli stated in his communication that the funds were allegedly distributed across several new wallets, including eight wallets created before the event.

However, in the public discussions analyzed, several community members are requesting that these addresses be published so they can perform their own verification.

Their request is simple:

• Which wallets received the OLX?
• Which wallets received the XRP?
• Where are the funds currently located?
• Are these addresses connected to each other?
• Did they send the assets to an exchange platform?

Publishing this information would not necessarily allow the recovery of the funds, but it would allow the community, blockchain analysts, and investors to independently verify the timeline.

This is precisely one of the fundamental principles of a public blockchain: statements can be compared against available data.

The 8 Wallets and the XRP Movements

In his following update, Crypto Oli explained that the funds were allegedly not sent to a centralized exchange.

According to him, they were distributed across eight new wallets created approximately 24 hours before the event, with around 3,903 XRP each.

This information raises several questions:

• Why did these wallets exist before the movements?
• Why distribute the funds in this way?
• Do these wallets actually belong to the person responsible for the compromise?
• Why not allow a complete public analysis?

To date, publicly available information does not provide definitive answers to these questions.

After the Price Drop: OLX Buybacks Also Raise Questions

Another element attracting attention from some community members concerns the period following the price decline.

While the price of OLX dropped significantly after the events, Crypto Oli continued communicating about the project and indicated that he was continuing support actions, including buybacks.

For some investors, this situation raises a question:

What is the purpose of buying back tokens after a price drop caused by a massive sell-off?

Several explanations are possible:

• Supporting the market
• Restoring confidence
• Maintaining project activity
• Preparing a new stage of development

Without complete data regarding these buybacks and their conditions, it is impossible to determine a specific intention.

Trust Must Be Rebuilt Through Evidence

The OLX situation currently revolves around one essential point:

The difference between a statement and verifiable proof.

The observable facts are:

✅ An OLX-linked DEV wallet moved a significant amount of tokens.
✅ A transaction involving approximately 3.7 million OLX appears on the XRPL.
✅ The price of OLX dropped significantly following these movements.
✅ Crypto Oli claims that the wallet was compromised.
✅ Part of the community is requesting the complete addresses of the wallets involved.

The remaining unanswered questions are:

❓ Who actually controlled the wallet at the time of the transactions?
❓ What technical evidence proves an external hack?
❓ Why have the involved wallets not been published?
❓ What is the complete explanation behind the massive sell-off and subsequent buybacks?

Wallets that received the XRP (allegedly “stolen” or redistributed funds)

1. Primary distribution wallets (8 wallets receiving ~3,903 XRP each)

• rY9hHE7aHvtwxqpTWS2i67Grovw3uJLnd
• rBuHs67TbQE95A8mGrbZMeHVX1qoRkAxQP
• r3xkPZuwmQVRy7HXN1eRCUPtFv5Ucwhr4L
• rJUthrsbJ4jaybSJFqwVYEy6h45KjqRYpu
• rEmSVeCobfiPsKLAhcBQKxSSxxX3PoKeny
• rK2p4PDST886h7PX5ioSoqqXPafxAQbjEd
• r4XBBgfkTJe82ocQiWkiwwRGhMFt1bUbUe
• rfvtDDuzTLBT5VpVeyMr6BxMgtmYBAY1GL

👉 These are the main receiving wallets in the initial split (“fan-out”).

2. Secondary relay wallet (intermediate hop)

• rJAtj5rnucMPVL6N2cKBfo35umw4uM4FV1

👉 This wallet received funds from one of the 8 and forwarded them further.

3. Next-hop wallet in the flow

• rMTJeLEBNWvNkorPcex6ZN6JYVZmy4aUPz

👉 Receives funds after the relay step.

4. Final destination (exchange-linked wallet)

• rpNF4938Y8zCrqFP2owDHjMUdpAxMs49JD
  (destination tag: 87056292)

👉 Deposit wallet linked to crypto.com (KYC verified account on the platform).

Conclusion

The OLX situation is not only about a loss of tokens.

It combines several major elements:

• A massive market operation
• A significant price decline
• A claim of wallet compromise
• A demand for transparency from investors

At this stage, no definitive conclusion can be drawn regarding intent or responsibility.

However, one thing is certain: to restore trust, the community is primarily asking for verifiable evidence.

In the blockchain world, trust does not rely only on words. It relies on proof...

 An alert message was sent to David Schwartz on July 1, 2026. 

• Read this message

⚠️ Before buying the $OLX and $CFH tokens, take the time to verify the facts. Too many questions remain unanswered to invest blindly.