Orbit Bridge, the bridge service of the cross-chain protocol known as Orbit Chain, recently experienced a significant security breach, leading to the unauthorized transfer of approximately $81.5 million in various cryptocurrencies.
Initial Discovery and the Scale of the Hack
A vigilant user named Kgjr initially detected the hack and alerted others on the social media platform X. The attack was carried out through five separate transactions that diverted funds to new, unidentified wallets. The stolen assets included a diverse range of cryptocurrencies: $30 million in USDT, $10 million in USDC, 9,500 Ethereum (ETH) valued at $22 million, 231 Wrapped Bitcoin (WBTC) worth $10 million, and $10 million in DAI.
Orbit Chain’s Response and Actions
Following the hack reports, Orbit Chain acknowledged the breach on social media platform X and began collaborating with law enforcement to resolve the issue. On January 1, 2024, Orbit Chain requested major global cryptocurrency exchanges to freeze the stolen assets. As per the latest update, the stolen assets had not yet been moved, and Orbit Chain assured continuous monitoring and communication with their community about any developments.