Hackers Allegedly Breach Orbit Bridge, Stealing $82 Million in Cryptocurrencies
Summary:
Orbit Bridge, a service of the cross-chain protocol Orbit Chain, was allegedly hacked just before the new year, with a total loss of $82 million. The suspected theft was initially reported by a pseudonymous user on X, and later supported by online investigator Officer CIA and blockchain cybersecurity firm Cyvers. Data from blockchain analytics firm Arkham Intelligence shows that the stolen assets, which were transferred to new wallets, included various cryptocurrencies amounting to approximately $81.68 million.
Orbit Bridge, the bridging tool provided by cross-chain protocol Orbit Chain, was allegedly attacked by hackers, resulting in a loss of $82 million. This incident took place a mere three hours prior to the commencement of the new year. On Dec. 31, Kgjr, a pseudonymous user on X (known formerly as Twitter) raised flags about a potential breach, citing significant withdrawals from the Orbit Chain Bridge protocol. Concurring with Kgjr's suspicion, Officer CIA, a well-known online investigator, and Cyvers, a blockchain cybersecurity company, also shared similar insights.
Blockchain analytics firm, Arkham Intelligence, utilized data to discern that the alleged culprit made off with roughly $81.68 million in unlawfully procured assets. The presumably purloined funds include $30 million worth of Tether (USDT), $10 million in USD Coin, 9,500 of Ethereum (ETH), 231 Wrapped Bitcoin (WBTC), and $10 million in the form of algorithmic stablecoin DAI (DAI). These were all relocated to numerous newly established wallets. This news is still unfolding, and as more details become accessible, they will be integrated into the report.
Published At
1/1/2024 1:34:11 AM
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