According to ChainCatcher news, the co-founder of odin.fun posted a response on platform X regarding the previous theft news:
Today, we discovered a significant vulnerability in the latest liquidity AMM (Automated Market Maker) update. Some malicious users (mainly associated with criminal gangs within China) exploited this vulnerability to steal a large amount of BTC from the platform.
We are still assessing the exact amount of BTC lost, but as of now, our company's funds are insufficient to cover the losses. The remaining funds on the platform are safe.
We have hired top security/audit teams to conduct a comprehensive audit of our code, which may take about a week. Once the audit is completed, ODIN•FUN will resume operations.
In legal matters, we have contacted U.S. law enforcement and are working with OKX and Coin Security, who have also engaged with the relevant Chinese authorities. Their quick response has surprised us. We have identified several groups that profited from this vulnerability and will pursue them in China and file lawsuits domestically (especially considering the amount of evidence we have, including the activity of their wallets).
For those holding stolen BTC:
You only have a short time to return the funds, or it will be too late. This is not a negotiation. You have one chance to mitigate the consequences and avoid being prosecuted. Most of you have already been identified, and we will definitely invest as much time and resources as possible to recover the stolen funds.
We are formulating specific plans to compensate all affected users. We have some ideas, and if you like odin.fun, we believe you will appreciate what we are doing. Specific details will be announced immediately after finalization.
You can trust that we will do everything we can to keep everyone safe. We are here to stay and have no intention of leaving. This incident will not erase the friendship we have built together, nor will it stop our progress.
We believe that the future of Bitcoin DeFi is bright and hope you will join us in this journey. The power of words is limited, and we will win back your trust through our actions.
Despite setbacks, the growth of odin.fun continues to outpace any other Bitcoin DeFi platform.
