{"id":158985,"date":"2023-12-19T17:39:40","date_gmt":"2023-12-19T17:39:40","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=158985"},"modified":"2023-12-19T17:39:54","modified_gmt":"2023-12-19T17:39:54","slug":"injective-stops-inscriptions-minting-minutes-after-the-start-and-promises-refunds","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/injective-stops-inscriptions-minting-minutes-after-the-start-and-promises-refunds\/","title":{"rendered":"Injective Stops Inscriptions Minting Minutes After the Start and Promises Refunds"},"content":{"rendered":"<p style=\"text-align: justify\">INJS, a platform responsible for conducting registrations on the <a href=\"https:\/\/crypto-economy.com\/what-is-injective\/\" target=\"_blank\" rel=\"noopener\">Injective<\/a> blockchain, found itself involved in an unusual event as <strong>it abruptly halted the inscription creation process just minutes after its initiation.<\/strong><!--more--><\/p>\n<p style=\"text-align: justify\">The INJS team <strong>issued a warning to the community, urging them to stop the inscription creation process, and announced plans to refund all affected users<\/strong>. This sudden move created uncertainty within the community, prompting questions about the security, integrity, and transparency of the project.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Attention, please: Stop the minting<\/p>\n<p>After hearing from the community and discussing with <a href=\"https:\/\/twitter.com\/Injective_?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@Injective_<\/a> .We will refund all funds. We plan to re-initiate a free fair launch later on<\/p>\n<p>Please wait for our announcements for further details.<\/p>\n<p>&mdash; INJS -Fair Launch Soon\ud83e\udd77 (@inj_inscription) <a href=\"https:\/\/twitter.com\/inj_inscription\/status\/1737131733005557950?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">December 19, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">The user community quickly identified certain signs of concern before the official alert. Comments on the original announcement pointed out <strong>unusual fees of 0.03 INJ per inscription<\/strong>, raising doubts and suspicions. The Injective blockchain also issued a separate warning through its official channels, <strong>urging users to refrain from participating in the inscription creation on INJS<\/strong>. It was stated that the INJS team was not being transparent and was applying a creation fee directed to an unverified wallet.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We are currently collecting transfer information and will initiate the refund process soon<\/p>\n<p>Please stop minting! <a href=\"https:\/\/t.co\/VbfzMUiOYb\" target=\"_blank\">https:\/\/t.co\/VbfzMUiOYb<\/a><\/p>\n<p>&mdash; INJS -Fair Launch Soon\ud83e\udd77 (@inj_inscription) <a href=\"https:\/\/twitter.com\/inj_inscription\/status\/1737133249208648097?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">December 19, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\"><strong>The initial goal was to introduce the experimental token standard INJRC-20<\/strong>, designed to simplify the process of creating, deploying, and transferring inscriptions on the Injective <a href=\"https:\/\/crypto-economy.com\/blockchain-technology\/\" target=\"_blank\" rel=\"noopener\">blockchain<\/a>. However, the abrupt interruption of the inscription creation process raised various questions about the viability and security of the platform.<\/p>\n<h2>Following the Incident, Injective Will Take Actions to Compensate Affected User and Reschedule Inscriptions<\/h2>\n<p style=\"text-align: justify\">In response to the situation,<strong> the INJS team is working to gather transfer data and is committed to initiating the refund process as soon as possible<\/strong>. Additionally, they have just announced their intention to relaunch the inscription creation process in the future, ensuring a fair and transparent rollout for users.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-76010\" src=\"https:\/\/crypto-economy.com\/es\/\/wp-content\/uploads\/sites\/4\/2023\/12\/INJS-post-1.jpg\" alt=\"injs injective\" width=\"825\" height=\"300\" \/><\/p>\n<p style=\"text-align: justify\">This conflict takes place at a time when the Injective Protocol is riding high<strong>. Its token experienced a 150% <a href=\"https:\/\/coinmarketcap.com\/currencies\/injective\/\" target=\"_blank\" rel=\"noopener\">growth<\/a> in the last month<\/strong>, and despite a bearish correction that brought its price down from $39.84 to the current <strong>$36.81, it still maintains a 12.47% increase in the last market session.<\/strong><\/p>\n<p style=\"text-align: justify\">Following this event, it is urgent to emphasize the importance of diligence and caution in the cryptocurrency space, where seemingly promising projects can encounter unexpected challenges. Protecting assets is the responsibility of both platforms and users.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>INJS, a platform responsible for conducting registrations on the Injective blockchain, found itself involved in an unusual event as it abruptly halted the inscription creation process just minutes after its initiation.<\/p>\n","protected":false},"author":34,"featured_media":158991,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[4620,9838,5026],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/158985"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=158985"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/158985\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/158991"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=158985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=158985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=158985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}