According to Odaily Planet Daily, odin.fun Lianchuang issued a statement on the X platform in response to the previous theft news:

Today, we discovered a significant vulnerability in our latest liquidity AMM (Automated Market Maker) update. This vulnerability was exploited by malicious users (primarily associated with criminal gangs in China) to steal a large amount of BTC from the platform.

We are still assessing the exact amount of BTC lost, but as of now, our company's funds are insufficient to cover the losses. The remaining funds on the platform are safe.

We have hired a top security/audit team to conduct a comprehensive audit of our code, which may take a week. Once the audit is completed, ODIN•FUN will resume operations.

On the legal front, we have contacted US law enforcement and are working closely with OKX and Binance, who have also contacted relevant Chinese authorities. We were surprised by their swift response. We have identified several groups that profited from exploiting this vulnerability and will pursue them in China and file domestic lawsuits (especially given the amount of evidence we have, including activity on their wallets).

For those holding stolen BTC:

You have a short time to return your funds before it's too late. This is not a negotiation. You have only one chance to mitigate the consequences and avoid prosecution. Most of you have already been identified, and we will dedicate as much time and resources as possible to recover the stolen funds.

We are working on a specific plan to compensate all affected users. We have some ideas, and if you enjoy odin.fun, we think you'll enjoy what we're doing. The details will be announced as soon as they are finalized.

You can trust that we will do everything in our power to keep everyone safe. We are here to stay and have no plans to leave. This incident will not erase the friendships we have built together, nor will it stop us from moving forward.

We believe the future of Bitcoin DeFi is bright, and we hope you'll join us in this journey. Words are powerless, and we'll earn your trust with action.

Despite the setback, odin.fun is still growing faster than any other Bitcoin DeFi platform.

Previous News: Odin.fun Lianchuang: We are investigating the recent withdrawal situation on the platform and temporarily suspending trading.