Odin.fun memecoins crash as platform suspends trading over security breach

The Memecoin platform, based in Bitcoin, Odin.fun interrupted all the exchanges and withdrawals on April 14 after the CEO Bob Boby revealed that his account had been compromised.

In an April 14 x jobAlerted his 48.2K disciples that his Odin.fun account had been hacked, clarifying that the violation was limited to his account on the platform and “did not affect” his Bitcoin portfolio.

He said the team had interrupted exchanges and withdrawals “to make sure that it was not a broader problem” and actively investigated the incident.

The first reports on the incident surfaced almost an hour earlier the same day, with a member of the community, “CAI”, ” robbery That all the tokens of the Odin.Fun of Body’s portfolio had been cleaned. The position, which quickly gained ground, is linked to the portfolio and accused the CEO of unloading assets, triggering panic among traders.

A number of the best same people launched on Odin.fun have corrected greatly once the incident reports have emerged.

Its same lighthouse, Oindog, fell by 57.6% in the last day, while others like Odinape, Satoshi, Odingold and Odinstas had experienced losses varying between 30 and 70%.

Crypto.News contacted corporal comments but had not heard as press time.

Launched in February of this year by the team behind the ordinary Bioniq market, Odin.fun was created as a runes market and launch of Launchpad while inspired by the media threshing surrounding the Solana’s Pump.fun and Tron’s Sun.

For uninitiated, Runes Are a Bitcoin-based token standard designed to allow the creation of fungible tokens on the Bitcoin network, similar to the ERC-20 tokens on Ethereum.

In the related news last month, the same launch platform for the same. suffer from a feat This has resulted in more than $ 180,000 in losses.