Compensation plan for affected users will follow a full security review.
Odinfun founder Bob Bodily has confirmed a recent vulnerability in the platform. Its automated market maker (AMM) liquidity module allowed multiple attackers to steal approximately 58.2 BTC in under two hours. The breach, traced primarily to groups based in China, occurred shortly after a platform update and has prompted a full security review.
Community reports first flagged an unusual drop in BTC deposits, falling from 291 BTC to 232.8 BTC in less than two hours. Preliminary investigation shows that attackers added liquidity through certain tokens, such as $satoshi, and artificially inflated their prices. After that, they removed liquidity to reclaim double the BTC without returning the paired asset.
Two suspicious wallet addresses have been identified as part of the incident. Odinfun quickly suspended withdrawals and trading to prevent further losses. Bodily confirmed that while the remaining funds are secure, the company treasury cannot fully cover the stolen amount at present.
The Odinfun team has engaged a top-tier security auditing firm to conduct a week-long, comprehensive review of the platform’s code. This follows the patching of the identified vulnerability. Bodily stated that the goal is to resume operations only after ensuring the AMM module is fully secure.
On the legal front, Odinfun has contacted U.S. law enforcement and is working with major exchanges OKX and Binance. Both have involved Chinese authorities in the investigation. Several profiteering groups have already been identified and are expected to face lawsuits both in China and in the company’s domestic jurisdiction.
Bodily issued a direct ultimatum to the attackers, giving them a limited window to return the stolen BTC. He warned that failure to comply would result in full-scale prosecution, backed by extensive wallet activity evidence.
The team is developing a compensation plan for affected users, with details expected after the audit. While Bodily did not provide specifics, he hinted that the plan would reflect Odinfun’s commitment to its long-term community.
Despite the setback, Bodily emphasized the platform’s rapid growth and leadership within the Bitcoin DeFi sector. “We are here to stay and don’t plan on leaving,” he said, pledging to rebuild user confidence through tangible actions rather than promises.
Odinfun’s leadership reiterated its belief in Bitcoin DeFi’s potential. It confirmed that the incident would not derail its development roadmap. The coming weeks will test the platform’s resilience. It works to recover lost assets, restore full operations, and reinforce trust with its global user base.
