Orbit Chain Bridge Hacked for $81.5 Million
Date: 2024-01-02 Author: Dima Zakharov Categories: IN WORLD
In a recent incident that has sent shockwaves through the cryptocurrency world, the Orbit Chain Bridge protocol was hacked, resulting in a significant loss of $81.5 million across multiple cryptocurrencies. The hack occurred in five separate transactions, with each one being transferred to a new wallet. The stolen funds consisted of $50 million in stablecoins, including $30 million in Tether (USDT), $10 million in DAI, and $10 million in USD, along with 231 wrapped Bitcoin (wBTC) worth approximately $10 million and 9,500 Ethereum (ETH) valued at around $21.5 million. The initial discovery of the hack was made by a user named X Kgjr.
It appears that the bridge protocol had a close association with the Klaytn KLAY ecosystem. Research on Klaytn indicates that 9 out of the top 10 tokens by market capitalization on the network were assets wrapped in the Orbit Bridge. However, the exact nature of the hack remains unknown, leaving the cryptocurrency community on edge as they await further details.
