Orbit Chain's hacked funds 'remain unmoved' following $81 million exploit

The Block2024/01/02 08:25

By:The Block

Quick Take Orbit Chain’s bridge was reportedly hacked for $81.5 million worth of crypto on Dec. 31.

Orbit Chain, which reportedly suffered an $81.5 million hack on Sunday, announced today that the pilfered cryptocurrencies “remain unmoved” from the addresses where the leaked funds are stored. “Our team is constantly monitoring the stolen asset, and we promise to inform the community once the address associated with the stolen asset has taken action,” the company said in a post on X.

Following the major hack, Orbit Chain announced on Monday that it asked global crypto trading platforms to freeze stolen assets and is working with global security firms and law enforcement agencies to track the crypto.

On Dec. 31, an “unidentified access” to the Orbit Bridge appeared to have sent $50 million in stablecoins (30 million USDT, 10 million DAI and 10 million USDC), 231 wBTC (~$10 million) and 9,500 ETH (~$21.5 million) to fresh wallet addresses in five separate transactions.

Orbit Chain has yet to disclose the exact nature of the hack. It did not immediately respond to The Block’s request for comment.

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