{"id":41940,"date":"2025-08-13T11:46:45","date_gmt":"2025-08-13T11:46:45","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=41940"},"modified":"2025-08-13T11:46:45","modified_gmt":"2025-08-13T11:46:45","slug":"memecoin-launchpad-odin-fun-suffers-7m-liquidity-exploit","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=41940","title":{"rendered":"Memecoin Launchpad Odin.fun Suffers $7M Liquidity Exploit"},"content":{"rendered":"
\n

Hackers drained 58.2 bitcoin (BTC), worth about $7 million, from memecoin launchpad Odin.fun in a sophisticated liquidity manipulation exploit that is being linked to China-based hacking groups.<\/p>\n

The attack targeted the Bitcoin-based memecoin launchpad\u2019s automated liquidity market-making system, which co-founder Bob Bodily later described as having a critical vulnerability.<\/p>\n

Blockchain data shows the platform\u2019s bitcoin reserves plummeted from 291 BTC to 232.8 BTC in under two hours amid the attack.<\/p>\n

\u201cToday we discovered a major exploit in our liquidity AMM which was introduced in our latest update,\u201d Bodily said in an X post following the attack. \u201cSeveral malicious users, primarily linked to groups in China, took advantage of this vulnerability to steal a significant amount of BTC from the platform.\u201d<\/p>\n

Attackers exploited Odin\u2019s liquidity pool by depositing a worthless token like SATOSHI alongside BTC, setting an inflated price ratio in the thin market. By manipulating the pool\u2019s math \u2014 often through self-trading or over-weighted deposits \u2014 they made the token appear far more valuable in BTC terms.<\/p>\n

They then withdrew liquidity, receiving large amounts of real BTC at the fake price, draining 58.2 BTC from the pool.<\/p>\n

This pump-and-drain worked because automated market makers rely purely on internal supply ratios, not external price checks, making them vulnerable when pools are shallow or poorly secured.<\/p>\n

Bodily said the incident involved multiple threat actors, many tied to Chinese groups, working in coordination to exploit the flaw. The breach was first flagged by a community member who noticed the unusual liquidity movements, prompting an immediate freeze on suspicious accounts.<\/p>\n

While the platform\u2019s remaining funds are \u201csafe,\u201d Bodily admitted Odin\u2019s treasury isn\u2019t large enough to fully absorb the losses, forcing the team to prepare what he called a \u201cconcrete plan\u201d to compensate affected users.<\/p>\n

\u201cWe have ideas\u2026 we\u2019ll share details as soon as they are finalized,\u201d he said on X, adding that the plan is being shaped alongside a full audit from a security firm in a process expected to take up to a week.<\/p>\n

The Odin.fun team has contacted U.S. law enforcement and is coordinating with Binance and OKX, both of which have engaged Chinese authorities to track and potentially freeze the stolen funds.<\/p>\n

Read more: Indian Crypto Exchange CoinDCX Suffers $44M Hack<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Hackers drained 58.2 bitcoin (BTC), worth about $7 million, from memecoin launchpad Odin.fun in a sophisticated liquidity manipulation exploit that is being linked to China-based hacking groups. The attack targeted the Bitcoin-based memecoin launchpad\u2019s automated liquidity market-making system, which co-founder Bob Bodily later described as having a critical vulnerability. Blockchain data shows the platform\u2019s bitcoin […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-41940","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/41940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41940"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/41940\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}