According to blockchain security platform CertiK, the team behind cross-chain bridging protocol OrdiZK (OZK) is being accused of conducting an exit scam and supposedly taking $1.4 million of investors’ cryptocurrency.
On March 4, the project’s deployer account shockingly sold 489 million OZK tokens on a decentralized exchange for $132,000, causing the token’s value to plummet by 98%. The following day, an additional $214,000 worth of OZK was sold, resulting in a further 99% drop.
CertiK’s findings show that on both occasions, the OZK deployer utilized Uniswap’s Universal Router contract to complete the transactions.
Moreover, through the “emergencyWithdraw” function, the project also withdrew 57.68 ETH (equivalent to approximately $197,000 currently) from the OZKStake contract.
CertiK also revealed that prior to the alleged scam, the project held a total of $1.4 million across three different wallets, including a “marketing wallet” and a “treasury wallet.”
