Obviously Odon could free himself from the bonds. But despite that, Odin regretted what had happened. He promised to give any much gold and riches as Hreidmar wanted - a monetary price to make up for the crime.
Hreidmar accepted this offer instead of having revenge. Hreidmar gave the skin of the dead otter to Odin and Loki and asked them to fill it with gold.
To get the gold, Loki went to another water stream. Loki knew that another very wealthy dwarf called Andvari lived in this stream. Andvari was also a sorcerer and could turn himself into a huge fish like the pike.
Loki caught a pike from the stream and knew instantly that this was Andvari. “Hand over all your gold, or I will kill you.”
Andvari was caught and did not know what to do.
So Andvari turned into his dwarf form and led Loki to his treasure.
Andvari gave Loki all the gold that he had. But Andvari kept one particular ring with himself.
“Hand me the ring.” Loki told Andvari.
Andvari pleaded with Loki. “Please let me keep this ring alone. As long as I have this ring, I can grow my wealth again.”
Loki shook his head. “That is all the more reason that I need the ring too.”
Andvari pleaded some more. But Loki was adamant.
Andvari reluctantly handed over the ring to Loki.
Then the dwarf became angry. “I curse this ring henceforth! Evil will befall anyone who possesses the ring.”
Adapted from Norse Mythology
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