On April 14, 2025, some users on X, formerly Twitter, sounded the alarm after noticing a weird series of transactions on the Odin.fun platform. While they did not want to jump to conclusions, speculation followed and the market reacted predictably. According to reports on X and a tweet from Odin.fun’s founder Bob Bodily, the Odin platform was compromised, and it led to the unauthorized clearance of assets. As soon as the news got out, the platform’s flagship token, $ODINDOG, saw a sharp decline in value, reportedly dropping by almost 40% within hours. Odin platform’s $ODINDOG token plummeted after users noticed the founder’s account was unloading assets, potentially due to a breach. Source: @CG_BRC20 (X/Twitter). Odin rocked by hack reports According to data from CoinGecko, Odin’s market cap is currently hovering just above $4 million, with a circulating supply of 21 million. Each token is currently worth 0.1911, down almost 90% from its all-time high of $1.78. Bodily first reported the attack on his Odin account hours after it seemingly happened, stating that the team was investigating the issue and reassuring users he would share more info soon. About an hour after his first post about the attack, he clarified that only his Odin.fun account had been compromised so far, not his BTC account. “Still digging,” he concluded the tweet. It seemed like things were being handled but then shortly after his second tweet, Bodily revealed that Odin had paused trading and withdrawals platform-wide as it looked into whether the breach was an isolated event targeting Bodily’s account or signs of a broader vulnerability. Community members on X are skeptical of Odin and its leadership Some users on X are skeptical that Bodily was not the perpetrator of the attack himself. Few have even suggested the possibility of it being an internal theft, even though no substantial evidence supports their suspicion. Others expressed sympathy for the Odin team, tagging the situation a “nightmare” and accepting wholeheartedly that the asset liquidation happened due to the mass sell-off from the compromised account. While nobody can prove yet that the incident exploited an internal flaw, was an external hack, or involved internal misconduct, one thing many seem to be agreed on is that the platform did not need to restrict withdrawals. We've stopped trading/withdraws to ensure this isn't a broader issue on the platform. Still investigating. — Bob Bodily, PhD 👋 | #BTC #ETH #ICP 🧙🏽♂️ (@BobBodily) April 14, 2025 “Unless the team can resolve the issue in a short period of time, do not close the deposit, withdrawal, and trading functions, as this may cause greater panic,” one user wrote. Another wanted to know why withdrawals were put on hold when only the founder’s account was compromised. “Please listen to the voice of the market, do not create greater panic, believe that your goal is not to make a little money, but to have a greater sense of achievement and wealth!” Another user urged. The exploit comes more than a month after Bodily reassured users that Odin’s BTC deposits are secure with a 1:1 reserve. The statement was supposed to address unrelated hacking concerns at the time, which suggests the platform has faced security scrutiny before. Still, it’s unclear how it relates to the current incident. As things stand, why those assets were cleared from Bodily’s account and why it was his only account that was targeted remain unknown, but investigations are ongoing. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
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