odin.fun co-founder: The company's funds are insufficient to cover losses, the remaining funds on the platform are safe

ChainCatcher message, odin.fun co-founder responds on platform X to the previous theft news:

Today, we discovered a significant vulnerability in our latest liquidity AMM (Automated Market Maker) update. Some malicious users (mainly associated with criminal gangs within China) exploited this vulnerability 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 secure.

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.

Legally, we have contacted U.S. law enforcement and are working with OKX and Coin Security, who have also reached out to relevant authorities in China. Their quick response has surprised us. We have identified several groups profiting from this vulnerability and will pursue them in China and file lawsuits domestically (especially considering the amount of evidence we have, including their wallet activities).

For those holding the stolen BTC:

You have a very short time to return the funds, or it will be too late. This is not a negotiation. You have one chance to mitigate the consequences and avoid prosecution. Most of you have already been identified, and we will definitely invest as much time and resources as possible to recover the stolen funds.

We are formulating specific plans to compensate all affected users. We have some ideas, and if you like odin.fun, we believe you will appreciate what we are doing. Specific details will be announced immediately after they are finalized.

You can trust that we will do everything we can to ensure everyone's safety. We are here to stay and do not intend to leave. This incident will not erase the friendship we have built together, nor will it hinder our progress.

We believe the future of Bitcoin DeFi is bright, and we hope you will join us in moving forward. The power of words is limited; we will win back your trust through actions.

Despite the setbacks, odin.fun's growth rate still surpasses any other Bitcoin DeFi platform.