Odin.fun is cooperating with the authorities to recover assets that have been frozen on various centralized exchanges (CEX) and Tokens.

This platform is nearing completion of the audit and processing, committing to ensure user balances at a 1:1 ratio and transparently reporting valid transactions before reopening trading.

MAIN CONTENT

  • Odin.fun's funds on multiple CEX and Tokens have been frozen.

  • Cooperating with the authorities to recover assets and process transactions.

  • Auditing and recovery are nearly complete, and the reopening time will be announced specifically.

What issues does Odin.fun have with funds and Tokens on centralized exchanges?

Odin.fun's funds and Tokens are currently frozen on multiple centralized exchanges. This means these assets cannot be moved or traded normally. According to Bob Bodily, co-founder of Odin.fun, this is the main reason the platform has to temporarily suspend trading.

Freezing funds usually occurs in situations with questions about transparency or illegal activities, forcing the platform to cooperate with law enforcement to address and protect user rights.

What measures has Odin.fun taken to address the situation?

This platform is working closely with the authorities to recover related assets while conducting audits, processing illegal transactions, and maintaining users' valid transactions.

The auditing and recovery process is in its final stages. The goal is to ensure that each user is protected with a 1:1 ratio of their previous legal balance, demonstrating a commitment to transparency and safety for the community.

Ensuring a 1:1 balance is a top priority as we collaborate with partners and authorities to recover assets and thoroughly protect users' rights.
Bob Bodily, co-founder of Odin.fun, August 2024

When will Odin.fun resume normal trading activities?

The timing for the resumption of trading activities will be announced after the audit, restoration, and fund confirmation processes are completed. The platform wants to ensure that the entire process is transparent and safe before allowing trading to resume.

The reopening will depend on the results of the work between Odin.fun and the authorities, showing responsibility and professionalism in risk management and investor protection.

What measures are being implemented to protect users and ensure transparency?

Odin.fun is committed to cleaning up all illegal transactions, retaining and verifying valid transactions. This helps protect users' assets and eliminates risks from fraudulent or illegal operations.

Cooperation with partners and law enforcement is also a way to build trust and enhance the platform's credibility in the volatile cryptocurrency market.

Frequently Asked Questions

What is the status of Odin.fun's funds and Tokens on the exchange?

Odin.fun's funds and Tokens are frozen on multiple centralized exchanges but are being coordinated for recovery and processing.

Why does Odin.fun have to suspend trading?

Due to the freezing of funds and Tokens, the platform needs to audit and process transactions to protect users and comply with the law.

When will trading reopen on Odin.fun?

The reopening time will be announced after the audit and recovery processes are completed, ensuring the safety of users' assets.

What has the platform done to ensure user balances?

Odin.fun is committed to protecting balances at a 1:1 ratio, maintaining and verifying valid transactions before reopening trading.

What does cooperation with the authorities mean?

This is an important step to recover frozen assets, ensure transparency, and enhance the platform's reliability.

Source: https://tintucbitcoin.com/odin-fun-lianchuang-bi-dong-bang-tai-san/

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