13-8-2025 – Bitcoin-based meme-coin launchpad ODIN•FUN suffered a $7 million exploit after attackers manipulated the price of the Satoshi Nakamoto (SATOSHI) token through a classic liquidity pool attack, cybersecurity firm PeckShield reported.
The attackers deposited SATOSHI tokens into a liquidity pool, artificially inflated the price, then drained the corresponding Bitcoin from the pool before other users could withdraw their funds. ODIN•FUN CEO Bob Bodily said the vulnerability stemmed from the platform’s latest automated market maker update, with most attackers identified as China-based groups.
ODIN•FUN immediately halted trading operations and launched a security audit, with plans to resume within a week. Bodily confirmed that law enforcement in the U.S. and China is investigating alongside major exchanges OKX and Binance, warning attackers they have a “short window” to return stolen funds before prosecution. The company is developing a compensation plan for affected users, though Bodily acknowledged the treasury cannot cover full losses.
The incident highlights growing vulnerabilities in decentralized finance protocols, following similar attacks this year including Venus Protocol’s $700,000 loss and Cetus Protocol’s $250 million exploit on Sui blockchain.
