Infiltrators swiped approximately $7 million worth of bitcoins through the use of Odin.Fun
In a shocking turn of events, Odin.fun, a memecoin launchpad, fell victim to a significant hack in August 2025. The attack resulted in the loss of approximately $7 million worth of Bitcoin, or 58.2 BTC.
The attackers exploited a vulnerability in the platform's liquidity automated market maker (AMM) tool. They injected worthless tokens such as SATOSHI and ODINPEPE into liquidity pools alongside Bitcoin. By artificially inflating the value of these tokens through self-trades, they were able to withdraw a disproportionately large amount of Bitcoin.
Method of the Attack
- Token Injection: Attackers added worthless tokens to liquidity pools, including SATOSHI and ODINPEPE alongside Bitcoin.
- Price Manipulation: They artificially inflated the prices of these tokens by conducting self-trades.
- Liquidity Withdrawal: Once the tokens' perceived value increased, they withdrew their liquidity, receiving Bitcoin in return.
Actions Taken for Compensation and Investigation
Compensation Efforts
The platform's treasury lacks sufficient funds to fully compensate affected users. However, Odyssey, the team behind Odin.fun, is working on a plan to potentially compensate users through other means, though details are still under development.
Investigation and Recovery
Odin.fun has halted trading and is conducting a comprehensive security audit to address the vulnerabilities exploited during the hack. The platform is collaborating with U.S. law enforcement and major cryptocurrency exchanges like OKX and Binance to track and recover stolen assets. Chinese authorities have also been contacted, as the attack was linked to entities from China.
Bodily, co-founder of odin.fun, urged the attackers to return the stolen funds, emphasizing that significant evidence has been gathered and that identities of the perpetrators have been identified. Bob, co-founder of odin.fun, confirmed the hack and noted that the company's funds in the Treasury are insufficient to fully cover the losses.
Within two hours of the attack, the platform's deposits were reduced from 291 BTC to 232.8 BTC. Bob stated that groups associated with China were involved in the incident on odin.fun. Bodily warned the hackers that they have a short period of time to return the funds.
The team at odin.fun is also working on compensation for affected users. Despite the financial limitations, they are determined to find a solution to help those impacted by the hack. The investigation is ongoing, and updates will be provided as more information becomes available.
- The attack on Odin.fun, a memecoin launchpad, involved injecting worthless tokens like SATOSHI and ODINPEPE into liquidity pools alongside Bitcoin, manipulating prices artificially to inflate the tokens' value, and withdrawing disproportionately large amounts of Bitcoin.
- In response to the hack, Odin.fun has halted trading, is collaborating with U.S. law enforcement, major cryptocurrency exchanges like OKX and Binance, and Chinese authorities to track and recover stolen Bitcoin. The platform's team is also working on potential compensatory measures for affected users, though details are still under development.
