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OrdiZK, a project that set out to become a bridge between the Bitcoin, Ethereum and Solana blockchains, appears to have pulled an exit scam, with developers apparently siphoning more than $1.4 million from separate wallets, according to blockchain security firm CertiK.
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The OrdiZK website and social media accounts have been taken offline, and the protocol’s native token (OZK) has lost more than 99% of its value.
CertiK said OrdiZK committed an exit scam by selling tokens and calling an “emergencyWithdraw” function to remove ether (ETH) from the project. The ether was consolidated across three wallets: The project’s deployer wallet holds $1.03 million worth, the treasury wallet has an additional $262,000 worth and the marketing wallet holds ETH worth $173,000.
CertiK added that throughout its life cycle, OrdiZK obtained ether by charging a sales tax.
Read More: Bitcoin Bridge OrdiZK Suffers Apparent $1.4M Rug Pull, Token Crashes to Zero: CertiK
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