In a up-trend market we still find some coins moving dosn. The ONI utility token associated with Anonify has recently experienced a significant downturn, dropping over 90% in value within a few weeks. This decline, and the silence of the devs has led to discussions about the possibility of the project being a rug pull.
Anonify, is known for its privacy-centric Telegram bot, it promises secure cross-chain swaps without the need for personal information, emphasizing anonymity. The project's Blast Bridge is supposed to enhance user experience by facilitating smoother interactions between Ethereum and the Blast Layer 2 network.
User say they bought the coin because of its promises but it's been a short time and its already having security problems and lack of communication.
Looks like the problem is security, since some users accessed the Blast L2 mainnet prematurely, prompting the team to delay the bridge's activation to mitigate risks since it was already compromised. It caused the alarms to go off. Despite the following announcements and plans for repurposing the interface for a different web app, there is frustration over the lack of communication from the devs and the perceived selling pressure.
While the project's Telegram group reflects a range of opinions, from support for the anonymous creator to criticisms of project management, the token's price has fallen significantly.
We don't know if it will recover, but investors are not happy, tho selling now at this prices will signify a huge lose percentage for all players.
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