Overview

• Attackers manipulated a shallow automated market maker by depositing near-worthless tokens to inflate internal prices and withdrew 58.2 BTC, worth about $7 million.
• On-chain data showed platform reserves fell from roughly 291 BTC to 232.8 BTC in under two hours on August 12, triggering the operational freeze.
• The team has hired a top-tier security firm for a week-long audit and is coordinating with U.S. authorities, OKX and Binance to recover and track the stolen funds.
• Co-founder Bob Bodily admitted the treasury can’t fully cover the losses and committed to a concrete user compensation plan once the audit concludes.
• ODINDOG token plunged roughly 40% and this marks Odin.fun’s fourth exploit since 2024, highlighting persistent AMM design and liquidity risks.