Hackers Drain Odin.fun Platform of Millions in a Bold Bitcoin Heist
Main Idea
Odin.fun, a Bitcoin-based memecoin platform, suffered a security breach where hackers stole approximately 58.2 BTC ($7 million) by exploiting vulnerabilities in its liquidity pools.
Key Points
1. PeckShield identified the breach, revealing hackers stole 58.2 BTC, causing the platform's Bitcoin holdings to drop from 291 BTC to 232.8 BTC in under two hours.
2. The hackers manipulated liquidity by adding coins resembling SATOSHI into the platform’s liquidity pools, inflating their prices before withdrawing liquidity for Bitcoin returns.
3. The exploit disrupted the automatic market vulnerabilities within Odin.fun’s system framework, leading to rapid asset liquidation.
4. Odin.fun’s co-founder, Bob Bodily, acknowledged the breach and stated the team is working with U.S. law enforcement to track the attackers’ wallet movements.
Description
Odin.fun lost 58.2 BTC in a sophisticated hack. Hackers exploited liquidity pools by inserting and inflating coins. Continue Reading: Hackers Drain Odin.fun Platform of Millions in a Bold Bitcoin Heist The post Hackers Drain Odin.fun Platform of Millions in a Bold Bitcoin Heist appeared first on COINTURK NEWS .
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