ALADDIN (An LHC Apparatus for Direct Dipole moments INvestigation) is a compact fixed-target experiment proposed for LHC, designed to achieve unprecedented precision measurements of the magnetic dipole moments (MDM) and electric dipole moments (EDM) of charmed baryons. Its innovative design exploits the deflection of protons from the main beam halo onto a solid target, combined with a curved crystal. This configuration allows for the production of highly forward-collimated charmed baryons, which are then channeled through the crystal. A key element of the experiment is the study of spin precession induced by the channeling effect in the curved crystal. By analyzing the polarization of decaying charmed baryons, ALADDIN aims to measure both the magnetic dipole moment and the electric dipole moment with great precision, providing crucial data for understanding fundamental interactions. The experimental setup includes a 4.4 m long spectrometer and a RICH detector for particle identification. Installation is planned in the IR3 region of the LHC during Long Shutdown 3, without the need for infrastructure interventions and with minimal impact on the operation of the LHC. Data taking is planned for Run 4. Currently, the TWOCRYST proof-of-principle test is underway at the LHC to demonstrate the feasibility of the concept, with results expected in 2025. The experiment's Letter of Intent has been submitted to the LHCC, which has approved the continuation of the collaboration towards a technical proposal in 2025.