$7 Million Worth of BTC Drained in Satoshi Token Price Manipulation Exploit

Explore the newest tendencies within the Bitcoin area. This article dives into: “$7 Million Worth of BTC Drained in Satoshi Token Price Manipulation Exploit”.

• Tracking down stolen BTC
• Other related incidents 

According to cybersecurity agency PeckShield, a complete of $7 million price of Bitcoin (BTC) was not too long ago drained from Bitcoin-based meme-coin launchpad ODIN•FUN.

The unhealthy actors deposited the Satoshi Nakamoto (SATOSHI) meme token right into a liquidity pool. After this, they artificially inflated the value of the token. 

The liquidity was then eliminated after the unhealthy actors pumped the value of SATOSHI. 

They acquired a complete of $7 million price of BTC for the reason that pool believed that the tokens in query have been truly beneficial. 

After the pool was drained of funds, different customers clearly couldn’t withdraw their belongings. 

Tracking down stolen BTC

ODIN•FUN has stopped AMM buying and selling in an effort to forestall different incidents. The challenge is presently participating with 

“We have already engaged a top-tier security/auditing team to perform a full audit of our code, which could take up to a week. Once complete, ODIN•FUN will resume operations,” ODIN•FUN CEO and co-founder Bob Bodily mentioned. 

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In addition, ODIN•FUN has contacted legislation enforcement in addition to main exchanges, together with Binance.  

The platform claims that a number of China-based teams have already profited from the exploit, and they are going to be prosecuted.  

“You have a short window to return the funds before it is too late. This is not a negotiation,” 

Other related incidents 

Such assaults are usually not precisely uncommon. For occasion, again in April, an attacker famously manipulated the value of the Inverse Finance (INV) token on SushiSwap. The attacker borrowed almost $16 million with overvalued INV collateral.

In 2023, Polygon-based 0VIX lending platform misplaced roughly $2 million after the attacker artificially inflated the value of the vGHST token and used it as collateral. 

In early 2025, Venus Protocol suffered $700,000 in losses following a  vital “donation attack.” The attacker used extraordinarily overvalued wUSDM stablecoin tokens as collateral.  

Finally, Cetus Protocol, one of many main decentralized exchanges on the Sui blockchain, not too long ago suffered a catastrophic $250 million exploit on account of a library overflow bug. 

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