CoinVoice has recently learned that the co-founder of odin.fun responded on platform X regarding the latest news of the theft:
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 specific 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 secure.
We have hired a top security/audit team to conduct a comprehensive audit of our code, which may take a week. Once the audit is complete, ODIN•FUN will resume operations.
In legal terms, we have contacted U.S. law enforcement and are collaborating with OKX and Coin Security, who have also reached out to relevant Chinese authorities. Their quick response has surprised us. We have identified several groups profiting from this exploit 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 have a very 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 sued. Most of you have already been identified, and we will certainly 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 working on. Specific details will be announced immediately after they are finalized.
You can trust that we will do everything possible to ensure everyone is safe. We will stay here; we do not plan to leave. This incident will not erase the friendship we have built together, nor will it stop our progress.
We believe the future of Bitcoin DeFi is bright, and we hope you will join us in this journey. The power of words is limited, and we will win back your trust through actions.
Despite setbacks, the growth of odin.fun continues to outpace any other Bitcoin DeFi platform. [Original link]
