odin.fun Co-founder: Company Funds Insufficient to Cover Loss, Remaining Funds on Platform Safe

By: theblockbeats.news|2025/08/13 13:52:02

0

Share

copy

BlockBeats News, August 13, odin.fun Co-founder posted on X Platform in response to the previously stolen funds, stating, "We discovered a major vulnerability in our latest liquidity AMM (Automated Market Maker) update. Some malicious users (mainly associated with criminal gangs in China) exploited this vulnerability to steal a large amount of BTC from the platform. We are still assessing the specific amount of BTC lost, and the company's funds are insufficient to cover the loss. The remaining funds on the platform are secure. We have identified several groups that profited from exploiting this vulnerability and will pursue them and file lawsuits (especially considering the amount of evidence we have, including the activity in their wallets)."

Earlier reports indicated that odin.fun platform had a suspected vulnerability, resulting in approximately 58.2 BTC being transferred out.

-- Price

You may also like

Ten Thousand Words Interpretation of STRC: Strategy for Making Money to Buy Coins New Magic

Ten Thousand Words Interpretation of STRC: Strategy for Making Money to Buy Coins New Magic

The real momentum of the BTC rebound - for every 1 dollar of STRC issued, there corresponds 3 dollars of BTC buying.

What competitive advantages are still defensible in the AI era?

What competitive advantages are still defensible in the AI era?

Based on the signals received, determine the direction, and act immediately

For Whom the Bell Tolls, For Whom the Lobster Feeds? A Dark Forest Survival Guide for the 2026 Agent Player

For Whom the Bell Tolls, For Whom the Lobster Feeds? A Dark Forest Survival Guide for the 2026 Agent Player

If an AI has read Machiavelli and is much smarter than us, they would be very good at manipulating us — and you wouldn't even realize what's happening.

Circle CEO's Latest Interview: Stablecoins Are Not Cryptocurrency

Circle CEO's Latest Interview: Stablecoins Are Not Cryptocurrency

The true meaning of a stablecoin is to turn the US dollar into an internet-native currency and eventually create an internet financial platform

Deconstructing the Public Chain Pharos Capital Game: Is a $950 million valuation supported by assets like photovoltaics just a shell transaction under layers of betting?

Deconstructing the Public Chain Pharos Capital Game: Is a $950 million valuation supported by assets like photovoltaics just a shell transaction under layers of betting?

When a physical industry company injects physical assets into a Layer 1 project, it can easily create a valuation of 950 million dollars by calculating several times the value of the physical assets. Is this kind of capital game too outrageous? Does the crypto market really need such RWAs?

a16z: AI is making everyone 10x more productive, but the true winner has yet to emerge

a16z: AI is making everyone 10x more productive, but the true winner has yet to emerge

Institutional AI and Retail AI "Better Integration" is an Inevitable Trend.

Why did the star Web3 project Across Protocol choose to abandon DAO?

Why did the star Web3 project Across Protocol choose to abandon DAO?

The proposal for Across to privatize itself is a rare move, but it comes at a time when the industry is beginning to recognize that DAOs are a difficult organizational structure to operate.

In fact, ETH scaling is a major benefit for L2

In fact, ETH scaling is a major benefit for L2

ETH has finally admitted defeat—its Rollup-centric roadmap is unworkable, while the monolithic scaling solutions adopted by blockchains like Solana have proven to be correct.

Memories: 10 Key Contributions of the TON Core Team That Few People Knew in the Early Days

Memories: 10 Key Contributions of the TON Core Team That Few People Knew in the Early Days

Every line of code, every tool we build, every sleepless night spent maintaining the network—these efforts have laid the foundation for TON's development today.

2025 South Korea CEX Listing Post-Mortem: Investing in New Coins = 70% Loss?

2025 South Korea CEX Listing Post-Mortem: Investing in New Coins = 70% Loss?

The 2025 South Korean exchange's new token listing performance is structurally similar to Binance's, with no significant differences.

BIP-360 Analysis: Bitcoin's First Step Towards Quantum Immunity, But Why Only the "First Step"?

BIP-360 Analysis: Bitcoin's First Step Towards Quantum Immunity, But Why Only the "First Step"?

This article explains how BIP-360 reshapes Bitcoin's quantum defense strategy, analyzes its enhancements, and discusses why it has not yet achieved full post-quantum security.

50 million USDT exchanged for 35,000 USD AAVE: How did the disaster happen? Who should we blame?

50 million USDT exchanged for 35,000 USD AAVE: How did the disaster happen? Who should we blame?

Due to a fatal flaw in the transaction path, a $50 million DeFi operation was executed with almost zero protection, resulting in nearly the entire amount of funds evaporating in a tiny liquidity pool.

The Cryptographic Past of the Middle East

The Cryptographic Past of the Middle East

Reality is often more exciting than fiction.

Resolving the Intergenerational Prisoner's Dilemma: The Inevitable Path of Nomadic Capital Bitcoin

Resolving the Intergenerational Prisoner's Dilemma: The Inevitable Path of Nomadic Capital Bitcoin

When the baby boomer generation collectively sells off, who will become the "greater fool" in the next round of asset crashes?

Who Will Control AI? Why Decentralized AI May Be the Only Alternative to Government and Big Tech

Who Will Control AI? Why Decentralized AI May Be the Only Alternative to Government and Big Tech

AI has become critical infrastructure, and governments and corporations are competing to control it. Centralized development and regulation are entrenching existing power structures. The Web3 community is building a decentralized alternative — distributed compute, token incentives, and community governance — before that window closes.

Vitalik wrote a proposal teaching you how to secretly use AI large models

Vitalik wrote a proposal teaching you how to secretly use AI large models

Vitalik believes that in the AI era, users should not have to give up their identity to use an AI tool.

On the eve of the explosion of on-chain options

On the eve of the explosion of on-chain options

Options are becoming a new anchor in the cryptocurrency market.

WEEX AI Hackathon: How Did This AI Trading Winner Succeed?

WEEX AI Hackathon: How Did This AI Trading Winner Succeed?

A self-taught AI trading enthusiast achieved top-10 results at the WEEX AI Hackathon. Learn about the mindset, AI tools, and lessons behind this impressive performance.

Ten Thousand Words Interpretation of STRC: Strategy for Making Money to Buy Coins New Magic

The real momentum of the BTC rebound - for every 1 dollar of STRC issued, there corresponds 3 dollars of BTC buying.

What competitive advantages are still defensible in the AI era?

Based on the signals received, determine the direction, and act immediately

For Whom the Bell Tolls, For Whom the Lobster Feeds? A Dark Forest Survival Guide for the 2026 Agent Player

If an AI has read Machiavelli and is much smarter than us, they would be very good at manipulating us — and you wouldn't even realize what's happening.

Circle CEO's Latest Interview: Stablecoins Are Not Cryptocurrency

The true meaning of a stablecoin is to turn the US dollar into an internet-native currency and eventually create an internet financial platform

Deconstructing the Public Chain Pharos Capital Game: Is a $950 million valuation supported by assets like photovoltaics just a shell transaction under layers of betting?

When a physical industry company injects physical assets into a Layer 1 project, it can easily create a valuation of 950 million dollars by calculating several times the value of the physical assets. Is this kind of capital game too outrageous? Does the crypto market really need such RWAs?

a16z: AI is making everyone 10x more productive, but the true winner has yet to emerge

Institutional AI and Retail AI "Better Integration" is an Inevitable Trend.

Popular coins

Latest Crypto News

02:42

Data: If BTC falls below $68,188, the cumulative long liquidation intensity on major CEX will reach $946 million

According to Coinglass data, if BTC falls below $68,188, the cumulative long liquidation intensity on major CEX will reach $946 million. Conversely, if BTC breaks above $74,800, the cumulative short liquidation intensity on major CEX will reach $845 million.

02:42

Data: If ETH falls below 2,002 USD, the cumulative long liquidation intensity on major CEXs will reach 575 million USD

According to Coinglass data, if ETH falls below $2,002, the cumulative long liquidation intensity on mainstream CEX will reach $575 million. Conversely, if ETH breaks above $2,207, the cumulative short liquidation intensity on mainstream CEX will reach $559 million.

00:42

International Energy Agency: Oil from emergency reserves will soon begin to flow into the global market

According to Jinshi News, the International Energy Agency (IEA) stated that oil from emergency reserves will soon begin to flow into the global market, with stocks from Asian and Oceanian countries available for immediate use, while stocks from Europe and the Americas will be available by the end of...

00:42

Venus Protocol: Borrowing and withdrawing have been suspended, other markets are not affected

Venus Protocol announced on the X platform that, in light of the ongoing investigation into the abnormal activities in the THE fund pool, precautionary measures have been taken to immediately suspend all THE borrowing and withdrawals to prevent any further abuse. This measure will remain in effect u...

00:42

Data: The current 8-hour average funding rate for ETH across the entire network is 0.0003%

According to Coinglass data, the current 8-hour average funding rate for ETH across the network is 0.0003%. Among the current mainstream exchanges, the rate on Binance is 0.0034%, OKX is 0.0028%, Bybit is 0.0008%, and Gate is 0.0026%.