In a startling turn of events, the Orbit Chain Bridge, a key player in the realm of blockchain interoperability, has been compromised in a security breach that resulted in the theft of approximately $82 million. The incident, which unfolded mere hours before the world welcomed the new year, has sent shockwaves through the cryptocurrency community.
The breach was first highlighted by a user known as Kgjr on the social media platform X, with subsequent confirmation from blockchain detectives Officer CIA and the cybersecurity firm Cyvers. Arkham Intelligence provided data indicating the exact sum lost to the hackers: a staggering $81.68 million.
The funds were siphoned off in five distinct transactions, encompassing a diverse portfolio of digital assets including $30 million in Tether, $10 million in USD Coin, $21.7 million in Ether, $9.8 million in Wrapped Bitcoin, and $10 million in the algorithmic stablecoin DAI.
Orbit Chain, a South Korean initiative launched in 2018, is renowned for facilitating asset transfers across various blockchain networks, with a particular emphasis on compatibility between EVM networks and the Klaytn blockchain.
As of now, the method employed by the cybercriminals remains a mystery. Attempts to reach Orbit Chain and Klaytn for their comments have yet to yield a response.
