None Trading Shuts Down Following Security Breach and Loss of Funds
None Trading, a popular trading tool for cryptocurrencies and non-fungible tokens (NFTs) on Discord, has announced that it will be closing its doors to customers. The decision comes after the company suffered a security exploit, resulting in a significant loss of funds required for its operations. Additionally, three key team members have left the organization.
While the exact amount lost has not been disclosed, some users speculate that the company may have lost around 40ETH due to the exploit. In response to this incident, None Trading plans to archive and potentially shut down its website, Discord server, and Telegram channel within the next few hours.
To provide token holders with an opportunity to claim rewards and withdraw their tokens from the NT bot, None Trading has implemented a 30-day grace period before permanently taking the platform offline. During this period, specific commands like “withdraw,” “get_priv,” and “portfolio” will still be functional, while other functionalities will be disabled.
Doubts Arise Within the Crypto Community
The lack of detailed information surrounding the security breach and losses has led to skepticism among crypto enthusiasts. Some suspect that the shutdown may be an attempt to scam users or execute a rug pull. One Twitter user even accused Amadeo Raffy, CEO of NONE, of being a scammer based in the UAE and tagged Dubai police in their tweet.
Another user mocked the CEO for shutting down due to significant financial losses, highlighting that such losses should not be a major concern for someone with billionaire status. These doubts have had an immediate impact on the value of the None Trading token (NONE), which plummeted by approximately 80% to $0.073 per token following the announcement.
The None Trading token gained attention for its sophisticated trading bot, attracting over 1,600 holders and generating $60,000 in profits for its community members within just three days of its launch. The platform was praised for its advanced algorithms and real-time data analysis capabilities, making it an ideal trading partner for traders of all levels.
Hot Take: None Trading Faces Closure Amidst Security Breach and Allegations
None Trading’s decision to shut down following a security breach and loss of funds has raised doubts within the crypto community. With key team members leaving and the lack of transparency surrounding the incident, some users suspect foul play or a potential scam. The value of the None Trading token has taken a significant hit as a result.
While the platform initially gained attention for its advanced trading bot and profitability, this unfortunate turn of events highlights the risks involved in the crypto space. Investors and traders should exercise caution and conduct thorough research before engaging with any platforms or tokens.
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