Once Odin and Loke set out to explore the whole world. 

As they traveled they came to a stream by which sat an otter eating a fish. Loke threw a stone and killed the otter. 

Taking the otter and the fish, they went on until they came to a farmhouse. There they asked to stay until morning. They showed the fish and the otter and said they would need no other food. 

The farmer saw that Loke had killed his son, who often changed himself into an otter when he wanted to fish. He said nothing about it, but went out and told his two sons, Regin and Fafner. 

When the skin had been taken off the otter, the two sons came in. They and their father overcame the gods and bound them. 

Odin offered to pay a ransom. The farmer demanded enough gold to fill the otter skin and cover it. 

So Odin sent Loke to the dwarf, Andvare, who was the richest of all dwarfs. He was also the wariest of all dwarfs. He changed himself into a fish and hid in the water. 

But Loke borrowed a net from Ran, the sea-god’s wife, and caught him. 

When Andvare found that he could not escape, he gave up all his gold but one little ring. This he tried to hide under his arm. Loke took it away from him. The dwarf begged to have it given back. He said if he had the ring, he could make more gold; but, without it, he could do nothing.

When Loke would not let him have the ring, he cursed the gold, and said it Avould always bring trouble to its owner. 

Loke carried the gold to Odin. Odin filled the otter skin and covered it, but kept the ring. When the farmer looked he found one hair that was not covered. Odin put the ring upon the hair and the farmer unbound him. 

As soon as the gods were gone, the sons demanded some of the gold. The father refused to divide it, and Fafner killed him with a sword while he slept. 

Then Begin demanded half the gold. But Fafner ran away with the whole hoard.