- The Montra Finance A.I. project announced its team was drafted for the U.S.-Israel war, forcing an immediate shutdown on Wednesday.
- The project’s MONTRA token, which launched on February 25, saw its value drop 80% after the announcement.
- The unexplained account deletion and site failure has convinced many in the crypto community that this event was a creative rug pull disguised by current geopolitical events.
Montra Finance abandoned its cryptocurrency project this Wednesday, claiming its entire team was conscripted to fight in the U.S.-Israel conflict against Iran. The company made this announcement via X before deleting its account and letting its website display a 404 error page.
Consequently, the value of its MONTRA token quickly collapsed. The token’s market capitalization fell from roughly $100,000 to about $20,000, a loss of 80%.
The purported “autonomous quant trading” project had performed poorly after an initial surge following its February 25 launch. This rapid failure led many observers to conclude the venture was simply a well-timed exit scam.
One crypto user said, “Having a hard time deciding whether this, or the dev that died and came back alive and died again was a better rug excuse.” Another noted the site was “vibe-coded” with a popular AI tool, questioning its legitimacy from the start.
Potential issues were evident before the shutdown. A different user noted days earlier that the site blocked wallet connections, calling the behavior “sketchy.”
The conflict cited by Montra Finance is impacting regional crypto markets. It has spurred outflows from Iran’s largest exchange and triggered bets on prediction platforms that have raised insider trading concerns.
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