Aug 13, 10:49 AM

Bitcoin Memecoin Launchpad Odinfun Loses $7 Million and 58.2 BTC in Liquidity Manipulation Attack Linked to China-Based Hackers

Odinfun, a Bitcoin-based memecoin launchpad, suffered a $7 million liquidity exploitation attack resulting in the loss of 58.2 BTC. The breach drained deposits from 291 BTC to 232.8 BTC in under two hours. Security firm PeckShield identified the incident as a sophisticated liquidity manipulation exploit, which is being linked to hacker groups based in China. Following the breach, Odinfun suspended trading and withdrawals during an ongoing security audit. The platform is coordinating with U.S. law enforcement agencies, as well as cryptocurrency exchanges OKX and Binance, which have engaged Chinese authorities in response to the attack.

#Odinfun #Bitcoin #PeckShield #China #OKX #Binance #Chinese

Written with ChatGPT (GPT-4).

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Decrypt@DecryptMedia
1 year ago
Bitcoin Meme Coin Launchpad https://t.co/L5tCSzEYmJ Loses $7 Million in Liquidity Exploit ► https://t.co/ckado7etIT https://t.co/ckado7etIT
SynFutures@SynFuturesDefi
1 year ago
Welcome to crypto 2017, the Wild West where millions were raised off the back of vaporware https://t.co/jk0VIv2T7Q
BSCN@BSCNews
1 year ago
COMMENT: Trading and withdrawals remain suspended during a security audit, with Odin coordinating with U.S. law enforcement, OKX, and Binance, who have reached out to Chinese authorities. https://t.co/4T9T2J8BKf

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Bitcoin Memecoin Launchpad Odinfun Loses $7 Million and 58.2 BTC in Liquidity Manipulation Attack Linked to China-Based Hackers

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