In a surprising turn of events, None Trading, a cryptocurrency and non-fungible token (NFT) trading tool integrated with Discord, has made the tough decision to cease its operations. The company cites a critical security exploit as the driving force behind this move, which has not only resulted in a substantial loss of funds but also seen key team members depart. As the crypto community grapples with questions surrounding the shutdown, let's delve into the details and the implications of this decision.
None Trading has officially announced its exit strategy following a security breach, which is shrouded in uncertainty due to the absence of specific details about the extent of the losses and the identity of the culprits. The lack of transparency has left many within the crypto space skeptical, with suspicions ranging from a potential rug pull to outright fraud.
Amidst the speculation, a user on X, operating under the handle “Onlyjpegsol,” took to the platform to accuse Amadeo Raffy, NONE's CEO, of involvement in fraudulent activities, even tagging the Dubai police in the tweet. Meanwhile, another user, “___deandree,” questioned the significance of the losses to a CEO presumably of considerable means.
With the announcement of None Trading's shutdown, the NONE token's value experienced a sharp nosedive, plummeting by approximately 80% to a mere $0.073 per token at the time of the announcement. The NONE token, introduced on August 4th, had generated substantial attention due to its sophisticated trading bot tailored for cryptocurrencies and NFTs. Within just three days of its launch, it garnered a community of over 1,600 holders and generated $60,000 in profits distributed among its community members.
The abrupt closure of None Trading raises more questions than answers, casting a shadow of doubt over the circumstances leading to its demise. As token holders are given a 30-day grace period to claim their rewards and withdraw tokens from the NT bot, the crypto community remains divided over the authenticity of the company's claims and the ultimate fate of NONE token holders. The episode serves as a stark reminder of the inherent risks in the crypto world, where transparency and accountability are paramount, and trust can be a fragile commodity.