Odin.Fun Halts Platform Activity Following Co-Founder’s Account Breach And $178K Liquidation
In Brief
Bob Bodily confirmed that Odin.Fun has temporarily suspended trading and withdrawals following a breach of his personal account in a hacking incident.
Bob Bodily, co-founder of the Bitcoin ecosystem trading platform Odin.Fun, confirmed that the platform has temporarily suspended trading and withdrawals following a breach of his personal account in a hacking incident. The team is actively investigating the matter to mitigate further risks.
In an earlier report, blockchain security firm PeckShield highlighted a decline in the price of ODINDOG, a Bitcoin token listed on the platform, which dropped by 50% within the past 24 hours. Additionally, the wallet associated with the platform’s deployer, Bob Bodily, was observed to have liquidated its entire position, valued at approximately $178,700, on the platform.
In the same statement, Bob Bodily clarified that the security breach appears to be limited to his account on the Odin.Fun and has not affected his Bitcoin wallet at this time.
As of this writing, the ODINDOG token is trading at approximately $0.1917, reflecting a decline of more than 48.3% over the past 24 hours, according to data from CoinGecko.
What Is Odin.Fun?
According to its website, Odin.Fun positions itself as a high-speed trading platform for Bitcoin-based tokens, having launched in March. The platform enables users to create tokens fast and facilitates quick buying and selling through a pump.fun-style bonding curve. It also features an integrated automated market maker (AMM), allowing for near-instant liquidity deposits and withdrawals, with all transactions updating in real time.
Odin.Fun is operating on a proprietary Bitcoin layer called “Valhalla.” This infrastructure offers 2-second finality, supports decentralized Bitcoin deposits and withdrawals via threshold signature schemes (TSS), and eliminates traditional gas fees. Users can access the platform by logging in with a Bitcoin wallet, depositing BTC, and beginning to trade after a single confirmation.
The platform focuses on Bitcoin memecoins—tokens developed and traded on Bitcoin. Currently, Odin.Fun supports the Runes protocol, with plans to expand to additional token standards in the near future.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
