Ordinals Finance carries out $1M exit rip-off

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

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

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

The venture used Ethereum to create its native OFI token regardless of its claims that it might 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 lively and is used to mint collectible gadgets by way of on-chain inscriptions.

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