In a shocking turn of events, None Trading, a leading DeFi and NFT trading robot operating primarily through Discord, has suddenly announced its closure. The decision came after the altcoin team discovered serious vulnerabilities in its infrastructure, resulting in the loss of significant funds and underlying team tokens. In addition, the departure of three core team members exacerbated the situation, leaving None Trading in an untenable position. Here are the details…
Altcoin stops its activities
The team moved quickly to address the crisis, deciding to halt all company operations. Over the next few hours, they will begin the archiving process and, if deemed necessary, take down the None Trading website, Discord server and Telegram channel. This move, although unfortunate, is intended to ensure the safety and security of the project’s users and remaining assets. None Trading users are required to take immediate action within the next 30 days. During this time, they can claim their remaining rewards from the platform before the dashboard goes offline permanently.
Additionally, since the trading bot will be offline indefinitely, users are advised to settle pending trades within the same time frame. To facilitate these operations, users can use the withdrawal, get_priv and portfolio commands, since all other features and commands are disabled. The repercussions of these events were rapid and severe. CoinGecko data reveals that the project’s native token suffered a staggering 70% drop in value in just 24 hours, sending shockwaves through the crypto community.
Cryptocurrency projects face many challenges
The unexpected closure of None Trading is a stark reminder of the risks and challenges in the decentralized finance (DeFi) and NFT sectors. Despite the potential for innovation and profit, vulnerabilities in infrastructure and the departure of key team members can quickly lead to devastating consequences. The crypto community will undoubtedly be watching this situation closely, with many questions about the circumstances surrounding the vulnerabilities and the future of the project’s team members. Users of None Trading, on the other hand, must take immediate action to protect their remaining assets and investments. This unfortunate incident underscores the need for rigorous security measures and constant monitoring in the crypto space, where the promise of opportunity is often offset by the threat of volatility and uncertainty.
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