Orbit

Orbit Chain

Klaytn

<p class="is-style-lead">Cross-chain protocol Orbit Bridge has suffered a hacker attack, resulting in a loss of more than $80 million in multiple cryptocurrencies.</p>
<p>In a <a href="https://x.com/Orbit_Chain/status/1741675935349506525?s=20" target="_blank" rel="noopener noreferrer nofollow">public X statement</a>, the Orbit Chain team confirmed the incident, saying the root cause of the issue is being carried out with Theori, a web3 auditing firm. The team noted it is “actively engaging with international law enforcement agencies,” without going into detail.</p>
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<p>The hack was first spotted by X user @KGJRTG, who revealed that the attacker drained millions of dollars worth of crypto such as Ethereum (<a href="https://crypto.news/tag/ethereum/" rel="noopener noreferrer nofollow">ETH</a>), USD Coin (USDC), Tether (USDT) and Wrapped Bitcoin (WBTC) from the <a href="https://crypto.news/tag/cross-chain-bridge/" target="_blank" rel="noopener noreferrer nofollow">cross-chain bridge</a>.</p>
<p>You might also like: <a href="https://crypto.news/pink-drainer-hackers-stole-4-4m-in-link/" rel="noopener noreferrer nofollow"> Pink Drainer hackers stole $4.4m in Link </a></p>
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   <p lang="en" dir="ltr">Looks like orbit bridge is getting drained right now, different fresh wallets for wbtc usdt usdc and dai, test tx's showup on orbit bridge scanner but bigger ones doesnt. Wallets bellow <a href="https://t.co/zlUbT0HrO2" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/zlUbT0HrO2</a></p>— Kgjr (clueless333) (@KGJRTG) <a href="https://twitter.com/KGJRTG/status/1741575860635783385?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 31, 2023</a>
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<p>Blockchain platform Klaytn, which had previously <a href="https://klaytn.foundation/ozys-mou/" target="_blank" rel="noopener noreferrer nofollow">signed</a> a memorandum of understanding with Orbit Bridge’s developer, Ozys, in September 2023, <a href="https://x.com/klaytn_official/status/1741633890052428258?s=20" target="_blank" rel="noopener noreferrer nofollow">reassured</a> users that the Klaytn Foundation remains unaffected by the Orbit Bridge hack.</p>
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   <p lang="en" dir="ltr">The Klaytn Foundation has not been affected by the Orbit Bridge hack. We’re currently reaching out to Ozys to assess the situation and will provide an update as soon as possible.</p>— Klaytn (@klaytn_official) <a href="https://twitter.com/klaytn_official/status/1741633890052428258?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 1, 2024</a>
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<p>Klaytn is actively communicating with Ozys to assess the situation and pledges to provide timely updates. Orbit is <a href="https://x.com/DreamerDFK/status/1741625820031209652?s=20" target="_blank" rel="noopener noreferrer nofollow">understood</a> to be the largest bridge provider for Klaytn.</p>
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 <p>“We’re currently reaching out to Ozys to assess the situation and will provide an update as soon as possible.”</p>
 <p>Klaytn</p>
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<p>Taylor Monahan, founder, and CEO of MyCrypto, noted that the flow of stolen funds resembles the modus operandi of hacking groups often affiliated with <a href="https://crypto.news/north-koreas-lazarus-behind-300m-in-2023-crypto-losses/" rel="noopener noreferrer nofollow">North Korea</a>.</p>
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<p>While the official attribution of the hack remains unclear, Monahan highlighted that Orbit Bridge is another project by Ozys, the team responsible for KlaySwap and Belt Finance, <a href="https://x.com/tayvano_/status/1741681104128770290?s=20" target="_blank" rel="noopener noreferrer nofollow">both</a> <a href="https://x.com/tayvano_/status/1741682375363637677?s=20" target="_blank" rel="noopener noreferrer nofollow">of which</a> were previously hacked for $6 million and $2 million, respectively.</p>
<p>Lookonchain’s <a href="https://x.com/lookonchain/status/1741674079693021662?s=20" target="_blank" rel="noopener noreferrer nofollow">calculations</a> estimate that Orbit Bridge’s losses in this security incident amount to a staggering $81.4 million, marking the first significant incident in 2024.</p>
<p>Read more: <a href="https://crypto.news/crypto-hackers-managed-to-steal-2b-in-2023/" rel="noopener noreferrer nofollow"> Crypto hackers managed to steal $2b in 2023 </a></p>

Cross-chain protocol Orbit Bridge suffers exploit, losses surpass $80m

crypto.news

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