Bob Bodily, co-founder of the Bitcoin ecosystem trading platform Odin.Fun confirmed that the platform temporarily suspended trading and withdrawals following a breach of his account in a hacking incident. The team is actively investigating the matter to mitigate further risks.

In an earlier report, blockchain security firm PeckShield highlighted a 50% drop in the price of ODINDOG, a Bitcoin token listed on the platform.

Bob Bodily responded to the liquidations of all his assets on the platform, stating, “My Odin.Fun account was hacked” and promised to release more information as soon as possible. He added that the hacker only compromised his ODIN.FUN account, and not his BTC address.

Several users reacted with vigilance and suspicion after hackers liquidated Bodily’s assets on the Odin platform, worth approximately $178,700.

Odin.Fun Token Plummets

The sudden 50% drop in the tokens price led to a significant increase in trading volume, with volumes rising from an average of 500 million tokens per day to 1.2 billion tokens on April 14, as recorded by CoinMarketCap.

However, this volume surge indicates a high market reaction to the deployer’s liquidation. The trading pair ODINDOG/USDT on Binance saw a similar volume increase, jumping from 200 million tokens to 450 million tokens within the same timeframe.

Furthermore, onchain metrics from Etherscan show that the number of active addresses for the token decreased by 30% from April 13 to April 14, indicating a loss of interest among smaller investors.

The platform recently celebrated its 1000th BTC in volume on April 12. This feat marked ODINDOG as the second-top Bitcoin token of all time based on volume.

In just the first quarter of 2025, the crypto industry saw some of the biggest hack losses, with Bybit’s $1.5 billion being the biggest one. However, the Bybit team overcame this loss strongly and recovered all the investors’ funds lost in the incident.

The silver lining in this process was that the Bybit hack soon became one of the most talked-about case studies of crisis management in the crypto industry, thanks to the firm’s ‘transparent communication.