None Trading, a Discord crypto bot, shuts down after critical exploit

None Trading, a Discord crypto bot, shuts down after critical exploit
фото показано с : invezz.com

2023-9-22 19:36

None Trading, a cryptocurrency and non-fungible token (NFT) trading tool that operated within the Discord platform has been forced to close its operations due to a severe “critical exploit” within its underlying infrastructure.

In an official announcement made on September 20th, the development team behind None Trading revealed that they had suffered substantial financial losses, including the loss of essential “team tokens” crucial for the platform’s functioning. Additionally, the unfortunate incident led to the departure of three key team members vital to the project’s healthy operation.

Dear None Trading Community,

It is with a heavy heart that we must deliver some unfortunate news today. We want to begin by expressing our deep sorrow and regret for the recent events that have transpired, which have forced us to make an incredibly difficult decision. None…

— NONE (@nonethio) September 20, 2023 None Trading decision to stop operations

The combined financial and infrastructural challenges resulting from this incident have made it impossible to effectively sustain the company. Consequently, the decision was made to cease all operations as a company.

As of the time of the announcement, None Trading had taken down its Discord server, Telegram channels, and official websites.

Token holders have been granted a 30-day window to claim any remaining rewards before the platform goes offline. The value of the None Trading token (NONE) plummeted by nearly 80% after the news, reaching a price of $0.074 per token.

At its launch a month ago, NONE had reported a market capitalization of $16.5 million. The project was first introduced to the public in May.

Before its closure, None Trading positioned itself as an “all-in-one trading solution directly within Discord.” Users had the option to access the trading bot for free or opt for a premium trading experience by paying a 300 NONE fee. The None Trading bot imposed a commission ranging from 0.3% to 0.6% on each trade. The project was led by an anonymous CEO who went by the name Carve, claiming to be a 19-year-old with a background in the NFT and token space since 2021, boasting the development of several prior projects.

The post None Trading, a Discord crypto bot, shuts down after critical exploit appeared first on Invezz.

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