None Trading, a trading tool for cryptocurrencies and nonfungible tokens built on Discord, has shut down due to a "critical exploit" within its infrastructure.
According to the September 20 announcement, None Trading developers said that it has "lost a significant amount of funding" as well as "team tokens" crucial for its operations. "Alongside 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," developers wrote.
"As a result, we are left with no other option but to cease operations as a company."
At the time of publication, the project's Discord, Telegram, and official websites have been taken down. None Trading wrote that token holders will have a 30-day window to claim their rewards before going offline. The None Trading token (NONE) 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.
Prior to its shutdown, None Trading held itself as the "all-in-one trading solution directly in discord." Users could either access the bot for free or pay a 300 NONE fee for premium trading. The None Trading bot then collected 0.3% to 0.6% commission based on each trade. Its anonymous CEO, Carve, claimed to be a 19-year-old who has been in the NFT and token space since 2021, having developed several projects.
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