DeFi protocol Ordinals Finance The “rug-pull” allegations gained momentum as OFI claimed to have deleted the website as well as all social media accounts of core team members. While CertiK first drew attention to the scam, CoinGecko’s data found that around $1 million was stolen by the project’s developers.
Ordinals Finance claimed that its protocol could enable users to lend and borrow records and do so with confidence and security. It was noteworthy that it promised to reduce the difficulties of transactions by eliminating intermediaries. While the project is not yet a leading DeFi protocol, some were optimistic that its technology could help it see positive growth in the near future.
Koinfinans.com As we reported, after Rug-pull, the price of the native token OFI has dropped more than 95% and is currently stable at $0.00009178. The token recorded its peak price about 20 days ago, and this growth trend is being interpreted as a “fake pump” to increase the size of the exit scam.
With the latest event on Ordinals Finance, cryptocurrency The fragility of projects has come back to the fore, justifying increasing pressure from regulators around the world.
While DeFi scams are common in the cryptocurrency industry, this trend has waned in 2023. However, it remains a worrying issue as attacks on other issues are also seen.
You can follow the current price action here.