Bullish
ODY Rug Pull Drains $15.6M After Secondary Token Offering
16:25
ODY fund executed a rug pull withdrawing $15.6M USDT after a secondary offering, affecting over 10,000 victims. Investigations link ODY to KXG via shared wallet addresses.
Woofun AI reports that the ODY fund conducted a secondary offering of 10 billion tokens on July 28, 2026, before withdrawing approximately $15 million USDT from trading pools. The scheme has impacted over 10,000 victims, with authorities accepting the case for investigation. On-chain analysis indicates ODY accumulated at least 15,669,118 USDT, including transaction fees. Further tracking confirms the main wallet received 5,383,428 USDT from a KXG wallet, establishing a shared fund pool between ODY and KXG.
WOOFUN AI
Impact Assessment · Quick Read
The confirmed link between ODY and KXG wallets suggests coordinated fraudulent activity across multiple projects, increasing the risk of further losses for investors in related assets. With over 10,000 victims and significant capital drained, this incident highlights persistent security vulnerabilities in secondary token offerings. Regulatory scrutiny may intensify, potentially impacting liquidity and trust in similar DeFi structures.
Generated by WOOFUN AI · For reference only, not investment advice
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