DeFi (Decentralized Finance) has gained immense popularity over the past few years, and with it a variety of projects. Unfortunately, not all of them will begin and end on a successful note. One such project which recently reported a $1M loss is Ordinals Finance.

Security firm CertiK released a press statement on April 24 which provided details of the rug pull from the Ordinals Finance protocol. The smart contract audit expert stated that a total of 269 million OFI tokens were withdrawn from the project. This number included the 256 million OFI tokens which were withdrawn via the Ordinals Finance deployer's safuToken function and the remaining 13 million OFI tokens withdrawn with the ownerRewithdraw function.

With such a huge token loss, investors, as expected, sustained a major blow. Reports in this regard state that the OFI market cap value before the rug pull was $2.3 million, falling to $143,000 after it. This undoubtedly points at more than $2 million having been lost. However, one factor to be taken into consideration is that some OFI token owners might have already sold their tokens as the news broke, which could have lead to the relatively lesser amount being reported by CertiK in the press statement.

The withdrawal of tokens from the Ordinals Finance protocol involved them being sent to a separate Ethereum address via multiple transfers. Later on, these funds were moved to Tornado Cash. Curiously, with the rug pulling taking place, the project's Twitter account has been deleted, and only time can tell whether further information will become available.



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