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Orbit cross-chain bridge hacked aftermath: $80 million loss, exchanges and authorities notified

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Orbit cross-chain bridge hacked aftermath: $80 million loss, exchanges and authorities notified

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Orbit Cross-Chain Bridge Hacked, $81.5 Million Lost

The cross-chain project Orbit was hacked in the early hours of New Year's Day in Taiwan, with an abnormal outflow of funds amounting to $81.5 million.

Twitter user Kgjr first discovered the hack, where the hacker transferred assets into a new wallet through five separate transactions:

  • 30 million Tether

  • 10 million USDC

  • 10 million DAI

  • 231 WBTC worth approximately $10 million

  • 9,500 ETH worth around $21.5 million

Orbit Collaborates with Law Enforcement and Exchanges

The hacker initially used Tornado Cash to provide the funds, making it difficult to trace. Orbit has taken several measures in response:

  • Paused the cross-chain bridge contract.

  • Listed all wallets related to the hacker.

  • Continuing to attempt communication with the hacker on-chain.

  • Collaborating with exchanges, cybersecurity firms, and law enforcement agencies to freeze the hacker's assets.

Klaytn: Unaffected

According to The Block, data on the Korean public chain project Klaytn's blockchain shows that many high-circulating assets on-chain are from Orbit's cross-chain transactions, raising suspicions that Klaytn may be affected.

However, Klaytn stated that it has not been impacted by this incident and emphasized that The Klaytn Foundation will continue to support the Orbit Chain team in finding solutions together.

Additionally, blockchain tracking entity Spot On Chain noted that the Orbit hacker has exchanged 30 million USDT and 230.9 WBTC for 17,250 ETH at an average price of 2,301 ETH, achieving an unrealized profit of $1.45 million as ETH reached $2,400.