A Shocking Shutdown

In a twist that could rival a daytime soap opera, None Trading, a popular trading tool for digital currencies and NFTs, has shut its doors due to a “critical exploit” in its infrastructure. On September 20, the project made the gut-wrenching announcement that it had suffered financial losses and even lost core team members, effectively crippling its operations.

The Financial Fallout

Alongside the operational chaos, None Trading reported a significant funding loss. Said losses weren’t just pocket change either; they indicated serious trouble within the company. The platform’s CEO, under the assumed moniker Carve, highlighted the grave challenges of maintaining the project while now operating without three essential team members.

• Significant loss in funding
• Loss of core team members
• Tokenholder reward claims available for 30 days

Token Trouble

The project’s NONE token took a nosedive of nearly 80%, falling to just $0.074 instantly following the announcement. Just a couple of months ago, None Trading was boasting a market cap of $16.5 million right after its launch in May. This stark contrast leaves many to ponder: Was it all just hype, or is there a lesson to be learned?

All-in-One Solution? Not Quite

Prior to its downfall, None Trading branded itself as an all-in-one trading solution nestled comfortably in Discord. Users had the choice to access the trading bot for free or pay a premium fee of 300 NONE tokens. This bot would then take a small slice of the action—a commission between 0.3% to 0.6% on trades. It sounded like a dream come true for crypto enthusiasts, but as they say, not all that glitters is gold.

A Community in Disarray

In an emotional farewell letter posted by the None Trading team, they expressed heartfelt sorrow for the circumstances that led to this drastic decision. “Dear None Trading Community, it is with a heavy heart that we must deliver some unfortunate news today…” the message began, making it clear that the shockwaves of this decision would be felt throughout the community.

“AI has killed the industry”—Words of wisdom or just a dramatic statement? One CEO thinks so!