- Trading and withdrawals on ODIN.FUN were suspended after Bob Bodily’s account was hacked.
- A 50% drop in ODINDOG token value occurred within 24 hours of the security breach.
- Despite the hack, ODIN.FUN reached 1000 Bitcoin (BTC) in trading volume on April 12.
The Bitcoin trading platform ODIN.FUN suspended all trading operations and withdrawals when its developer Bob Bodily announced his account had been hacked. The platform paused trading and withdrawals because this action prevented additional complications during its investigative process. Investors expressed concerns when Bodily’s account assets suddenly disappeared. Bodily issued a public acknowledgment of the hack through which he stated:
My ODIN.FUN account was hacked. We’ve stopped trading/withdrawals to ensure this isn’t a broader issue on the platform. Still investigating.
Bodily emphasized that his attack affected solely his ODIN.FUN profile. The Bitcoin address that belonged to him remained untouched, which comforted anxious investors. The platform decided to suspend all platform activities to minimize any potential risks and future hacking incidents.
ODINDOG Token Plummets
Peckshield reported on Monday that the native token of the platform ODINDOG suffered an extreme price decrease right after the security breach occurred. Within the initial 24-hour period, the token experienced a 50% loss of its market value. During this period, the linked wallet belonging to Bodily completed a total liquidation worth $178.7K. The liquidation triggered increased alarm among members of the crypto community.
On April 12 ODIN.FUN achieved a landmark event when it passed the milestone of achieving 1000 BTC in trading volume. While the breach was a security concern, the achievement demonstrated how the platform had become influential in crypto markets.
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The investigation process continues, while investors remain in wait for additional updates. The platform’s wider effects concern a significant number of users. The platform intends to address its security flaws while working on returning trading services after the situation advances. The platform stays dedicated to updating users with additional details as they become available regarding the breach incident.
This security breach has prompted widespread concern about the safety of all crypto platforms. Recent events have made users more vigilant about security, especially after this major hack. The prompt response of ODIN.FUN demonstrates their dedication to protecting user assets even though their platform’s crypto future is unknown. ODIN.FUN faces critical tasks to respond to the hack as the crypto industry closely monitors its progress.
