That must hurt! Odin.fun, the Bitcoin-based memecoin launchpad and trading platform just got hit hard. It wasn't pretty when the platform lost a huge 58.2 BTC, which is about $7 million, in an exploit. PeckShield, a blockchain security company, says that hackers changed the platform's liquidity to steal the money.
PeckShield said on Wednesday that 58.2 BTC had gone missing from Odin.fun's accounts because of a liquidity manipulation attack. Basically, hackers added tokens like SATOSHI to raise prices, took their money out, and left with Bitcoin profits. In less than two hours, Odin's Bitcoin deposits dropped from 291 BTC to 232.8 BTC.
#PeckShieldAlert An @Odin_GodOfRunes community member reported that 58.2 $BTC (worth ~$7M) were drained from the platform.
— PeckShieldAlert (@PeckShieldAlert) August 13, 2025
- Hackers added liquidity (e.g., via $SATOSHI)
- Artificially inflated the token price
- Removed liquidity to receive BTC returns
Attacker Addresses:
-… pic.twitter.com/igSZZujB1I
What’s Next for Odin.fun After the Exploit?
What did Bob Bodily, one of the founders of Odin.fun, have to say about all of this? Eight hours after the breach, Bodily posted on X that the team was still figuring out how bad the damage was. And here's the best part: Odin's treasury isn't big enough to cover the loss, but don't worry, the rest of the money is "safe." It sounds like they're in a hurry to fix things.
Apologies for the delay in responding to today’s event. We know it’s been over 8 hours since the exploit and our silence has likely been frustrating for many of you. We wanted to speak sooner but needed time to verify the facts and take immediate action to protect user funds.…
— Bob Bodily, PhD 👋 | #BTC #ETH #ICP 🧙🏽♂️ (@BobBodily) August 13, 2025
Bodily went on to say that the exploit took advantage of a flaw in the platform's automated tool for making the market for liquidity. It looks like the heist was mostly the work of people with ties to China. The good news (sort of) is that Odin.fun has a "concrete plan" to make things right for users who were hurt by the breach. They are still working out the details, but at least they aren't doing nothing.
Odin.fun is currently talking to a security team about doing a full audit of the platform, which could take up to a week. In the meantime, they've called the police in the U.S. and are working with OKX and Binance to help the Chinese government. Odin says he has a lot of proof, such as detailed records of what the hackers did with their wallets.
Bodily wrote a strong message to the people who were taking advantage of others:
“You have a short window to return the funds before it is too late. This is not a negotiation.”
That’s right, the clock’s ticking. Bodily’s warning? The hackers have already been identified, and the team is determined to recover the stolen funds, no matter the cost.
In my opinion, this could turn into quite the legal battle if the hackers don’t return the stolen funds, and fast. Stay tuned!
Jordan V.
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