Ordinals Finance has dedicated an exit rip-off that led to the theft of $1 million, blockchain safety agency CertiK has reported. April 24.
The venture deployment tackle emptied the Ordinals Finance good contracts, modified the venture token (OFI) to Ethereum (ETH) and consolidated the funds in a single account. The venture additionally deleted its web site and all social media.
Ordinals Finance mentioned it would develop a protocol for constructing decentralized finance (DeFi) functions on Bitcoin. It’s believed to have aimed to introduce lending, borrowing, betting, farming and trade functions based mostly on the Bitcoin Ordinals protocol.
The venture used Ethereum to create its native OFI token, regardless of claims that it could ultimately use the Bitcoin blockchain.
The worth of OFI token has dropped by 94% within the final hour.
Ordinals Finance isn’t formally affiliated with Bitcoin Ordinals, which stays energetic and is used to mint collectibles utilizing on-chain notes.
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