Memecoin platform Odin.fun abruptly halted all trading and withdrawals on April 14th following the revelation that its CEO Bob Bodily’s personal account had been compromised. Bodily clarified in an X post that the breach only affected his Odin.fun wallet, with no impact on his private Bitcoin wallet. The incident triggered a cascade of reactions, leading to swift price drops for several popular memecoins launched on Odin.fun. 57.6% of the platform’s flagship token, ODINDOG, plummeted within 24 hours as traders panicked over potential dumping by Bodily. Other tokens like ODINAPE, SATOSHI, and ODINGOLD also experienced significant losses ranging from 30% to 70%. Odin.fun, launched in February by Bioniq, the team behind the Ordinals marketplace, allows users to create fungible tokens on the Bitcoin network using Runes, a token standard inspired by Solana’s Pump.fun and Tron’s Sun Pump. However, this news coincides with a broader decline in illicit activity within the crypto sector in March, according to CertiK. The report suggests losses from crypto scams, hacks, and exploits fell to $28.8 million compared to February’s massive $1.5 billion loss, largely attributed to the Bybit hack. For more updates like this, visit DeFi Planet.