Dubai's Virtual Assets Regulatory Authority (VARA) has imposed a fine of nearly $2.8 million on cryptocurrency exchange OPNX and its founders for committing a Market Offense. The exchange, established by Kyle Davies and Su Zhu, enabled investors to trade bankruptcy claims for firms like FTX and CoinFLEX. Despite claims of significant investments, OPNX reported only $2 in trades during its initial 24 hours. Additional penalties totaling around $54,000 were imposed on the founders for non-compliance with marketing and advertising standards.