Orderly Network Discord Compromised

Two days after launching its new ORDER token staking and claims features, the Orderly Network disclosed that its official Discord channel has been compromised. A malicious actor has posted an airdrop claim link that likely leads to a phishing site, as reported by X user @Aceleansol.

Warning: “Do not click any links until we say it is all clear,” the Orderly team warned Thursday on social media platform X and Telegram. Currently, the only accessible message on the Orderly Discord is a set of rules posted by a bot in 2023.

The incident occurs amid an ongoing campaign to expand the protocol’s staking program, which promises to distribute 60% of Orderly’s net revenue to participants staking their ORDER tokens. The token generation event, which will airdrop 92 million tokens to eligible users, began on August 26.

Additionally, the platform is executing a gamified “Road to The Order” campaign that rewards users for participation. Since its launch in 2022, Orderly has achieved over $80 billion in total trading volume from approximately 400,000 traders, as noted on its website.

Phishing schemes are prevalent in the crypto space, where malicious actors compromise the social media accounts of firms, influencers, and celebrities to spread links to smart contracts that can deplete victims’ wallets. It’s estimated that $1.2 billion has been lost to crypto hacks and scams in 2024 alone, according to Immunefi.

Orderly Network functions as an aggregator for DeFi platforms, offering a unified order book to address liquidity fragmentation. It supports Ethereum, Polygon, Optimism, Base, Arbitrum, and Mantle. Its token is integrated into platforms like VALR, ByBit, and PancakeSwap for options trading and staking.

Recently, Orderly closed a $5 million strategic funding round, complementing the $20 million raised from notable investors like Three Arrows Capital, Pantera Capital, Dragonfly Capital, Sequoia China, Jump Crypto, and Alameda Research in 2022.