Odin.Fun Hack - August 2025
Overview
On August 12, 2025, Odin.fun, a Bitcoin-based memecoin launchpad and trading platform, was exploited for 58.2 BTC worth approximately $7 million.
Attack Method
Attackers exploited Odin's liquidity pool by depositing a worthless token like SATOSHI alongside BTC, setting an inflated price ratio in the thin market. By manipulating the pool's math — often through self-trading or over-weighted deposits — they made the token appear far more valuable in BTC terms. They then withdrew liquidity, receiving large amounts of real BTC at the fake price, draining 58.2 BTC from the pool.
Impact
The platform's bitcoin deposits dropped from 291 BTC to 232.8 BTC in under two hours.
Perpetrators
The attack involved a liquidity manipulation scheme targeting the platform's automated market-making tool, with hackers primarily linked to Chinese entities according to the co-founder's statement.
Response
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. Co-founder Bob Bodily said the project's treasury cannot fully cover the losses, but the team is working on a "concrete plan" to compensate affected users.
Sources