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Ordinals Finance has conducted a $1M rug pull: CertiK

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CertiK has accused Ordinals Finance of a $1 million exit scam. Here's what we know so far.

Ordinals Finance, an Ethereum-based decentralized finance protocol that allows users to lend and borrow inscriptions, has been accused of performing an exit scam, also known as a"rug pull."

In an April 24 press release seen by Cointelegraph, blockchain security firm CertiK reported that the protocol's developer pulled 256 million Ordinals Finance tokens out of its smart contracts using a"safuToken" function. Another 13 million OFI was removed through an"ownerRewithdraw" function, bringing the total number of tokens withdrawn to 269 million, CertiK stated.

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According to the blockchain security firm CertiK, the total loss to investors is $1 million. coingecko data shows that the market cap for OFI was $2.3 million before the alleged exit, but it fell to slightly over $143,000 afterward.

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