None Trading Shuts Down After ‘Serious Exploit’: Significant Losses and Team Tokens at Stake
None Trading Announces Immediate Shutdown Due to Serious Exploit
None Trading, a cryptocurrency and NFT trading platform built on Discord, has announced its sudden closure on September 20. The company revealed that a “serious exploit” in its infrastructure resulted in significant financial losses, including the loss of “team tokens” essential for trading operations.
Exploitation Leads to Financial and Infrastructural Challenges
The closure announcement explained that this exploit had put the company in an unsustainable position both financially and infrastructurally. The losses were so severe that three members of the core team decided to leave, making it impossible to effectively manage the project. As a result, the decision was made to cease all operations.
Following the announcement, Any Trading’s Discord, Telegram, and official websites have been shut down. Token holders have been notified that they have a 30-day window to claim any rewards before the platform goes completely offline.
Significant Impact on Market Value
The market reacted immediately to this announcement. The value of the “None Trading” token (NONE) dropped by nearly 80%, settling at $0.074. This decline comes after the company had initially announced a market value of $16.5 million just one month ago.
Overview of Any Trading’s Operations
Prior to its closure, Any Trading operated as a trading tool accessible through Discord. Users could choose between accessing the robot for free or paying a fee of $300 for premium trading features. The platform charged a commission between 0.3% and 0.6% on every trade made via the robot.
The anonymous CEO, known as Sculpture, was only 19 years old and claimed to have been involved in the NFT and token market since 2021. Despite its relatively short period of operation, the platform positioned itself as a “one-stop trading solution” for digital assets.
Importance of Robust Security Protocols
This shutdown incident highlights the challenges of maintaining strong security protocols, particularly for projects with limited operational experience.
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