None Trading Shuts Down Due to Critical Exploit
None Trading, a trading tool for cryptocurrencies and nonfungible tokens (NFTs) built on Discord, has announced its shutdown due to a “critical exploit” within its infrastructure. The developers of None Trading revealed that they have lost a significant amount of funding and team tokens that are crucial for the project’s operations. Additionally, they mentioned that the loss of three core team members has further impacted their ability to continue running the company effectively.
The project’s Discord, Telegram, and official websites have been taken down following the announcement. Token holders will have a 30-day window to claim their rewards before the platform goes offline. The value of the None Trading token (NONE) dropped by almost 80% to $0.074 per token upon the news of the shutdown. NONE had a reported market cap of $16.5 million when it was launched in May.
All-in-One Trading Solution on Discord
Prior to its closure, None Trading positioned itself as an “all-in-one trading solution directly in Discord.” Users had the option to access the bot for free or pay a premium fee of 300 NONE tokens for enhanced trading features. The None Trading bot collected a commission ranging from 0.3% to 0.6% based on each trade. The project’s CEO, Carve, claimed to be a 19-year-old with experience in the NFT and token space since 2021.
Hot Take: None Trading Shuts Down Following Funding Losses and Exploit
None Trading, a trading tool for cryptocurrencies and NFTs built on Discord, has made the difficult decision to shut down due to a critical exploit within its infrastructure. The project suffered significant funding losses and lost key team members, making it impossible to continue operations effectively. As a result, the project’s Discord, Telegram, and official websites have been taken down. Token holders have a 30-day window to claim their rewards before the platform goes offline. The value of the None Trading token (NONE) plummeted nearly 80% on the news. None Trading aimed to be an all-in-one trading solution on Discord, offering both free and premium options for users.
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