Origin Protocol said on Oct. 31 that it has restored onchain liquidity for its OGN token after temporarily withdrawing funds on Ethereum and Base in an effort to limit a Binance attacker's ability to sell the token.

Despite the precautionary move, the attacker still sold OGN at an average price roughly 79% below its reference market price while liquidity was thin. “Prices across the affected pools have since largely stabilized,” Origin said. The intervention reduced the funds available to buyers and sellers in the affected pools rather than preventing token transfers outright. That trade-off follows from how decentralized-exchange liquidity works: in Curve-style automated market makers, swap prices derive from the token balances in each pool, so a thinner pool clears a large sell order at a steeper discount instead of blocking the sale.

OGN's broader market price remained below its pre-withdrawal level. CoinGecko data placed the token at about $0.02413 at 9:01 a.m. ET on Oct. 31, down from $0.02570 at 2 p.m. ET on Oct. 29. Those aggregate market quotes are distinct from the execution prices recorded in individual onchain pools.

Onchain Records Show Scale of the Withdrawal

Ethereum records detail the size of the liquidity withdrawal. A transaction at 5:56 p.m. ET on Oct. 29 removed approximately 46.74 million OGN and 499.76 Origin Ether (OETH) from Curve's OGN/OETH pool and moved them into a multisignature wallet — a custody arrangement requiring multiple key holders to approve each transaction, commonly used by project teams for treasury and liquidity operations. Origin announced its precautionary withdrawal at 6:27 p.m. ET that same day, citing reports of a potential Binance security incident involving wallets holding OGN. The transaction data cited here covers Ethereum only; the precautionary withdrawal described by Origin also touched Base.

Sales continued through other pools. In one transaction at 10:38 p.m. ET on Oct. 29, a wallet Etherscan labels “Binance Hot Wallet Exploiter 2” sold about 1.78 million OGN through Uniswap V2 for just 3.385 ETH. At Etherscan's historical ether price of $2,241.18, that trade works out to roughly $0.0043 per OGN. By comparison, CoinGecko's aggregate OGN quote at 11 p.m. ET stood at about $0.0210.

That execution illustrates the steep discounts available in a thin-liquidity market, though it represents a single trade rather than an average across the attacker's sales. Origin did not specify the reference price or the averaging window behind its 79% estimate.

Liquidity Returned to Curve Pool

Liquidity subsequently returned to the Curve pool from the same multisignature wallet that received the withdrawn assets. A deposit at 4:09 a.m. ET on Oct. 31 supplied 39.502 million OGN and 449.76 OETH. At the time of checks, Etherscan showed the pool holding about 45.52 million OGN and 482.34 OETH. The redeposit was smaller than the Oct. 29 withdrawal of roughly 46.74 million OGN and 499.76 OETH, a gap the records cited here do not account for; the wallet's subsequent activity remains visible in public onchain data. The episode shows both the reach and the limit of project-controlled liquidity: a team can move its pooled funds into multisig custody in a single transaction when it sees a threat, but until those funds return, ordinary traders face the same thin market the attacker traded into.