Ordinals Finance carried out an exit rip-off that resulted within the theft of $1 million, blockchain safety agency CertiK mentioned April 24.
The handle of the venture implementer emptied the good contracts of Ordinals Finance, exchanged the venture token (OFI) for Ethereum (ETH) and consolidated the funds in a single account. The venture additionally deleted its web site and all social media.
Ordinals Finance claimed to construct a protocol for creating decentralized finance (DeFi) purposes on Bitcoin. It purportedly aimed to introduce lending, borrowing, staking, farming and alternate purposes on Bitcoin’s Ordinals protocol.
The venture used Ethereum to create its authentic OFI token regardless of its claims that it might finally leverage the Bitcoin blockchain.
The OFI token value has fallen 94% over the previous hour.
Ordinals Finance isn’t formally affiliated with Bitcoin Ordinals, which stays lively and is used to mint collectibles through on-chain inscriptions.
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