Summary
TLDR: The BRC-20 token project OrdiZK was involved in an exit scam, stealing $1.40 million from investors by dumping tokens and extracting Ethereum. The project’s online presence has been erased, leaving investors shocked. This incident raises concerns about the integrity of BRC-20 token projects and emphasizes the need for increased diligence among investors in crypto tokens.
Key Points
1. The BRC-20 token project OrdiZK was involved in an exit scam, stealing approximately $1.40 million in investor funds.
2. The fraudulent activities included token dumping and the extraction of Ethereum (ETH) through an ’emergencyWithdraw’ maneuver, causing significant price slippage in the token’s market value.
3. The scam resulted in the deployer holding stolen gains of 277 ETH, worth approximately $1,033,882.98, and additional funds in the project’s treasury and marketing wallets.