Ordinals Finance carries out $1M exit scam

Ordinals Finance has carried out an exit rip-off ensuing within the theft of $1 million, blockchain safety agency CertiK mentioned April 24.

The undertaking’s deployer tackle has emptied Ordinals Finance’s good contracts, swapped the undertaking’s token (OFI) for Ethereum (ETH), and consolidated funds in a single account. The undertaking has additionally deleted its web site and all social media.

Ordinals Finance claimed it could construct a protocol for growing decentralized finance (DeFi) purposes on Bitcoin. It supposedly aimed to introduce purposes for lending, borrowing, staking, farming, and swapping on Bitcoin’s Ordinals protocol.

The undertaking used Ethereum to create its native OFI token regardless of its claims that it could in the end leverage the Bitcoin blockchain.

The value of the OFI token is down 94% over the previous hour.

Ordinals Finance isn’t formally related to Bitcoin Ordinals, which stays energetic and is used to mint collectible gadgets by way of on-chain inscriptions.

The submit Ordinals Finance carries out $1M exit rip-off appeared first on CryptoSlate.

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