Odin·Fun has confirmed that a vulnerability in its latest liquidity AMM update allowed attackers, reportedly tied to groups in China, to withdraw a substantial amount of BTC from the platform. The incident, which unfolded earlier today, prompted the team to halt operations while they verified the facts, aware that their initial silence might have frustrated users.
The company says it is still assessing the total amount lost, but its treasury is currently insufficient to cover the shortfall. Remaining platform funds are reported to be secure. A leading security and auditing firm has been brought in to conduct a full code review, expected to take up to a week, after which operations will resume.
Law enforcement in the United States has been contacted, and Odin·Fun is cooperating with OKX and Binance, who have engaged authorities in China. The company says it has identified several groups who profited from the exploit and intends to pursue them through legal channels.
Those in possession of the stolen BTC have been warned to return it immediately to reduce the consequences, with Odin·Fun making clear that this is not open for negotiation.
The team is working on a compensation plan for affected users, promising to release details once finalised. They stress their commitment to rebuilding trust, saying that while this is a setback, it will not stop their growth in the Bitcoin DeFi space.
Dear Reader,
Ledger Life is an independent platform dedicated to covering the Internet Computer (ICP) ecosystem and beyond. We focus on real stories, builder updates, project launches, and the quiet innovations that often get missed.
We’re not backed by sponsors. We rely on readers like you.
If you find value in what we publish—whether it’s deep dives into dApps, explainers on decentralised tech, or just keeping track of what’s moving in Web3—please consider making a donation. It helps us cover costs, stay consistent, and remain truly independent.
Your support goes a long way.
🧠 ICP Principal: ins6i-d53ug-zxmgh-qvum3-r3pvl-ufcvu-bdyon-ovzdy-d26k3-lgq2v-3qe
🧾 ICP Address: f8deb966878f8b83204b251d5d799e0345ea72b8e62e8cf9da8d8830e1b3b05f
🪙 BTC Wallet: bc1pp5kuez9r2atdmrp4jmu6fxersny4uhnaxyrxau4dg7365je8sy2q9zff6p
Every contribution helps keep the lights on, the stories flowing, and the crypto clutter out.
Thank you for reading, sharing, and being part of this experiment in decentralised media.
—Team Ledger Life
