Ordinals Finance dedicated an exit rip-off ensuing within the theft of $1 million, says blockchain safety agency CertiK April 24.
The undertaking deployer deal with dumped Ordinals Finance sensible contracts, exchanged the undertaking token (OFI) for Ethereum (ETH), and consolidated the funds right into a single account. The undertaking has additionally taken down its web site and all social media.
Ordinals Finance claimed that it could construct a protocol to develop decentralized finance (DeFi) purposes on Bitcoin. It supposedly aimed to introduce lending, borrowing, staking, farming, and buying and selling purposes on Bitcoin’s Ordinals protocol.
The undertaking used Ethereum to create its native OFI token regardless of its claims that it could finally leverage the Bitcoin blockchain.
The worth of the OFI token has fallen by 94% within the final hour.
Ordinals Finance just isn’t formally related to Bitcoin Ordinals, which stays lively and is used to mint collectibles by way of on-chain signups.
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