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Editor: @PhoenixxDown

OdinFun Suffers Security Breach, Chaos Ensues on FunkyBit

The battle of the Runes platforms has taken a bizarre and unfortunate twist over the past 12 hours or so, with both FunkyBit and OdinFun going through some serious turbulence.

First up, OdinFun has been hit by a hack, prompting the platform to pause all trading and withdrawals. The breach, announced by founder Bob Bodily, involved the compromise of his personal account, which led to a full liquidation of his assets on the platform.

Bob clarified that it was only his OdinFun account that was compromised, not his Bitcoin wallet. Regardless, the incident triggered a cascade of panic selling across every token on the platform as users scrambled to exit.

Not much more is known at this stage, but sentiment is split. Some see this as a potential death blow for OdinFun, while others believe Bob might be able to resolve the issue and restore enough confidence to bring users back.

Bob and BLIFE Protocol will be holding an X Space very shortly to address the issues. Join, or listen back to the recording, via the post below:

Over on FunkyBit, there was no hack, but total confusion instead. Last night, Andrew Lawrence, an account closely associated with the platform, launched a Rune called GrandmasterFunk. This prompted many to ditch the established leader, FunkyMonkey, and rotate into Lawrence’s new coin.

The creator wallet, presumably Lawrence’s, holds 50% of the total supply, which he claims will be airdropped to the community. GrandmasterFunk hit a market cap of over $2 million at one point but has since dropped to $945K at the time of writing.

Some felt this move resembled a vampire attack targeting the first graduated token, FunkyMonkey. To be fair though, absolutely nobody said dump Monkey for Funk, but all the same, users were thrown into uncertainty and many early supporters have been left stung by the move.

Not a great day for the Bitcoin Runes platforms, especially after such a strong run recently, kicked off by Magic Eden’s acquisition of Slingshot.

Let’s hope all can steady their respective ships. But as Runes CEO, Shin, pointed out, there’s something important to keep in mind through all of this:

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Todays Markets

Ordinals

More bad news involving hacks, unfortunately, as a wallet containing a large number of OMBs was compromised yesterday. This led to a cascade of offers being accepted, resulting in almost 3 BTC in volume across 86 sales on what was otherwise a quiet day.

Taproot Wizards is up 4% and recovering nicely from the FUD that’s surrounded it since mint.

Runes

The carnage in Runes hasn’t been limited to the newer platforms, we’re seeing heavy pullbacks across many of the OG Runes today. $MIM takes a 22% hit just a day before the $WZRD migration. If you haven’t already migrated yours, now’s the time!

$GIZMO is down 17% and $BILLY follows with a 14% drop as the biggest losers of the day, while $ZBIT sneaks into the top 5 with a 9% gain, the biggest winner on the day.

Absolutely brutal drops on OdinFun, as panic from the hack did immense damage. Trading is still paused, so it remains to be seen how things react once it's back online. Hopefully, everything’s up and running again in time for tomorrow’s segment.

GrandmasterFunk has now taken the top spot on FunkyBit, more than doubling the previous leader, FunkyMonkey.

It’s shaping up to be a three-way race between those two and $KIP, which is also heavily backed by FunkyBit team members.

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