After news of the alleged going scam spread, the DeFi process appears to have removed its social media presence.
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Ordinals Finance, an Ethereum-based decentralized finance ( DeFi ) protocol that enables users to lend and borrow inscriptions, has been charged with carrying out an exit scam, also referred to as a rug pull.
Blockchain security company CertiK claimed to have used a safuToken act to remove 256 million OFI cryptocurrencies from its smart contracts in an April 24 news release seen by Cointelegraph. According to CertiK, an ownerRewithdraw act was used to remove an additional 13 million OFI, bringing the total number of cryptocurrencies withdrawn to 269 million.
Alert CertiKSkynet
We can confirm that a$ 1 million loss was caused by the ordinalsfinance exit scam.
Both the project's's websites and all social media accounts have been deleted.
EOA 0x34e25cCF has been created as a result of fund consolidation.
April 24, 2023, CertiK Alert( CertiniKAlert )
The total loss to investors is$ 1 million, according to the blockchain security firm. According to CoinGecko content, OFI's's market capitalization was$ 2.3 million prior to the alleged going but decreased to just over$ 143,000 following it. This suggests that costs totaled greater than$ 2 million. Nevertheless, some OFI item managers might have sold as the news spread, which could explain why CertiK reported a lower amount.
According to bitcoin data, the safuToken act was used by the Ordinals deployer account to withdraw more than 256 million OFI currencies. Through numerous orders, these funds are said to have been transferred to a different Ethereum accounts. Blockchain data demonstrates that before depositing the tokens into Tornado Cash, this name received OFI from a number of addresses.
It appears that the project's's Twitter account has been deleted.
Further investigation reveals that the deployer account exchanged the 256 million OFI for Ether ( ETH ) in 12 separate transactions after receiving it.
The deployer now transferred 85.5 % of the ETH to the balance, which ended in cf, before depositing it into Tornado Cash.
On an OEB Staking plan, the safuToken move was carried out. The owner of the lease appears to be able to move all staked tokens to itself using this feature, which is listed on lines 1445 to 1450 at the bottom of this file.
To move tokens to itself, the deployer balance also repeatedly called the OFI Staking plan, each occasion using the ownerRewithdraw function on lines 305308. As long as the contract's's balance is greater than a variable known as totalOwedValue, it appears to permit the owner to remove any number of tokens from the staking agreement.
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