Bitcoin-based memecoin platform Odin.fun abruptly paused all trading and withdrawals on April 14 after its CEO, Bob Bodily, revealed that his account had been compromised.
In an X post, Bodily clarified that the breach was limited to his Odin.fun account and did not impact his personal Bitcoin wallet.
My ODIN•FUN account was hacked.
Working on it. More info as soon as I can.
— Bob Bodily, PhD ???? | #BTC #ETH #ICP ????????♂️ (@BobBodily) April 14, 2025
In response to the incident, Bodily said the team suspended all platform activity “to ensure this isn’t a broader issue.” He added that an internal investigation is underway to assess the extent of the damage and restore user confidence.
Initial reports of the breach began surfacing nearly an hour before Bodily’s announcement. A community member, known as ‘Cai,’ flagged that all tokens in Bodily’s Odin.fun wallet had been drained. The post quickly gained traction, linking to the wallet address and accusing the CEO of dumping his holdings—a claim that sparked panic and heavy selloffs among traders.
The fallout was swift. Several top-performing memecoins launched on Odin.fun experienced steep declines following the news. ODINDOG, the platform’s flagship token, plunged by 57.6% within 24 hours. Other tokens like ODINAPE, SATOSHI, ODINGOLD, and ODINSTAS also suffered heavy losses, ranging from 30% to 70%.
Odin.fun, launched in February by the team behind the Ordinals marketplace Bioniq, serves as a marketplace and launchpad for Runes. Inspired by popular platforms like Solana’s Pump.fun and Tron’s Sun Pump, Odin.fun leverages Runes, a Bitcoin-based token standard that enables the creation of fungible tokens on the Bitcoin network, similar to Ethereum’s ERC-20 standard.
Meanwhile, the broader crypto sector saw a notable decline in illicit activity in March. As reported by CertiK, losses from crypto scams, hacks, and exploits fell to $28.8 million—down dramatically from February’s $1.5 billion, largely due to the Bybit hack. Of the March losses, $14 million stemmed from smart contract vulnerabilities, including a $13 million exploit on Abracadabra.money, while $8 million came from compromised wallets.
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