Odin.fun Users Panicked as Bitcoin Withdrawals Drain Deposits

The memecoin launchpad Odin.fun has suspended trading and withdrawals following a dramatic plunge in Bitcoin deposits, raising concerns about a security breach. In a matter of hours, the platform’s Bitcoin holdings dropped by nearly 20%, causing panic among users who fear a significant loss of funds. X user @web3xiaoba reported a drop from 291 BTC to 232.8 BTC – a loss of roughly 58.2 BTC – with two suspect addresses identified in the transactions. Founder Bob Bodily confirmed the suspension, stating they are working to secure user funds and investigate the unusual withdrawals. They promised updates on their investigation process.