Orbit

Orbit Chain

Tornado Cash

Tornado

The Tornado Cash mixer received 8671 ETH, valued at $32 million, on June 8th, from an attacker who breached the Orbit Bridge cross-chain bridge. Arkham Intelligence analysts made this discovery. The hack itself happened on December 31, 2023, and over $80 million was damaged as a result. A former employee was accused of helping to facilitate the attack by the South Korean company Ozys, which is responsible for developing the cross-chain bridge. 
Arkham also recalculated the losses and found that they were more than $100 million due to the protocol. “They have been completely silent since they stole over $100 million worth of ETH and DAI from Orbit Chain five months ago,” the experts noted. 
Still held in the hacker’s wallet are 66 million ETH and over 20 million USDT and DAI, two stablecoins. Additionally, the hacker possesses a modest quantity of wBTC, wETH, ORC, and USDC. 
The Orbit team put up a reward of up to $8 million following the hack in the hopes that the hacker would either return the funds or provide information about them. Nevertheless, this was of no use in determining who the perpetrator was. 
All told, the $37 million in locked funds on the network is what DeFi Llama claims. Over $150 million had been invested prior to the hack. 
It was reported in March that North Korean hackers had laundered $147.5 million stolen from the HTX exchange in 2023 using Tornado Cash. 
The hacker who compromised the Poloniex cryptocurrency exchange sent 100 ETH, or around $308,000, to the mixer in May.

Tornado Cash received $32 million in assets from an Orbit hacker.

Blocksays

Other articles published on Jun 10, 2024

TRON Price is Trading in Triangle Pattern; Can It Give a Breakout?

SynergyLabs Accelerator Program: Empowering Web3 Projects In Thailand

Loopring Hack Exposes Vulnerability in “Most Secure Wallet,” Drains $5 Million

Solana’s Path to Recovery: Holding Above 50 EMA Signals Potential Rebound

dWallet Network For Multi-chain DeFi And Gaming

Robinhood Buys Bitstamp to Boost Crypto

Join our free newsletter for daily crypto updates!