Ordinals Finance ran an exit scam, stealing $1 million, says blockchain security firm CertiK. April 24th.
The project deployer address emptied the Ordinals Finance smart contract, exchanged the project’s tokens (OFI) for Ethereum (ETH), and consolidated the funds into one account. The project has also removed the website and all social media.
Ordinals Finance claimed to build a protocol for developing decentralized finance (DeFi) applications on Bitcoin. It was supposedly intended to introduce applications for lending, borrowing, staking, farming, and swapping on Bitcoin’s ordinal protocol.
The project used Ethereum to create the native OFI token, despite claims to ultimately leverage the Bitcoin blockchain.
The OFI token price is down 94% over the past hour.
Ordinals Finance is not officially associated with Bitcoin Ordinals. Bitcoin Ordinals remain active and are used to create collectible items via on-chain inscriptions.
A post about Ordinals Finance running a $1M exit scam first appeared on CryptoSlate.
