None Trading, a trading tool for cryptocurrencies and nonfungible tokens (NFT) built on Discord, has shut down due to a \u201ccritical exploit\u201d within its infrastructure.<\/p>\n
In a Sept. 20 announcement, None Trading said\u00a0it had \u201clost a significant amount of funding\u201d as well as \u201cteam tokens\u201d crucial for its operations. \u201cAlongside this, we have lost 3 core team members that are required to keep the project running healthily. This unfortunate incident has put us in a financial and infrastructural position that makes it simply impossible to continue running the company effectively.\u201d<\/p>\n
\u201cAs a result, we are left with no other option but to cease operations as a company.\u201d<\/p><\/blockquote>\n
At the time of publication, the project\u2019s Discord, Telegram and official websites have been taken down. None Trading wrote that tokenholders will have a 30-day window to claim their rewards before going offline. The project\u2019s NONE token plunged nearly 80% on the news to $0.074 apiece. At the time of launch last month, NONE had a self-reported market cap of $16.5 million. The project was launched in May.<\/p>\n
Prior to its shutdown, None Trading held itself as the \u201call-in-one trading solution directly in discord.\u201d Users could either access the bot for free or pay a 300 NONE fee for premium trading. The None Trading bot then collected a 0.3%\u20130.6% commission based on each trade. Its anonymous CEO, Carve, claimed to be a 19-year-old active in the NFT and token space since 2021, having developed several projects.<\/p>\n