Following a cyber-attack on the cross-chain bridge project Orbit Chain, over $80 million worth of cryptocurrency has been stolen. The incident was disclosed by the blockchain on its Twitter account on January 1, 2024, revealing that an “unidentified access” to Orbit Bridge was confirmed on December 31, 2023.
The attackers managed to steal 26,741.6 Ether (ETH) and around 15,498,358 DAI, a stablecoin on the Ethereum blockchain. These stolen assets were transferred to multiple wallet addresses, totaling approximately $84.5 million at current prices. Orbit Chain, founded in South Korea in 2018, has been actively engaging with the hackers by sending them messages and is collaborating with law enforcement and security experts to track down and freeze the stolen funds.
It is important to note that any reimbursement claims circulating at the moment are likely scams. Users are advised to refer to the official Orbit Chain page for updates regarding the situation. Despite efforts to communicate with the perpetrators, the stolen assets remain untouched as of the latest updates on January 2.
Orbit Chain has established a system for investigating support and cause analysis in partnership with the Korean National Police Agency and Korea Internet & Security Agency. The firm is also cooperating with domestic and international law enforcement agencies to recover the stolen funds and apprehend the hackers. The community and the broader Web3 ecosystem have been urged to share this information widely to aid in the resolution of this incident.
At this time, there are no clear indications as to the identity of the attackers. However, it is worth noting that North Korea-affiliated actors have been linked to several high-profile cryptocurrency thefts, totaling $3 billion since 2017, according to research from Recorded Future’s Insikt Group.
As the investigation continues, Orbit Chain remains committed to recovering the stolen assets and ensuring the security of its platform. Stay tuned for further updates on this developing situation.