$7 Million in Bitcoin Drained in Satoshi Token Exploit
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How the Exploit Unfolded
After successfully pumping the price of the SATOSHI token, the attackers withdrew the liquidity, which allowed them to receive $7 million in BTC from the pool. The exploit left other users unable to withdraw their assets. In response to the attack, ODIN•FUN immediately halted AMM trading to prevent any further incidents. The company's CEO and co-founder, Bob Bodily, has confirmed that a security and auditing team has been engaged to conduct a full code audit, a process expected to take up to a week. The platform has also taken proactive measures by contacting law enforcement and major exchanges, including Binance.
Platform Responds and Pursues Legal Action
ODIN•FUN has stated that it plans to prosecute several China-based groups that are believed to have profited from the exploit. This decisive action underscores the platform's commitment to holding the attackers accountable and recovering the stolen funds. The company's response highlights the ongoing security challenges within the meme-coin and decentralized finance (DeFi) space, as bad actors continue to find new ways to exploit vulnerabilities for financial gain.
