Cryptocurrency theft has once again made headlines as over $80 million worth of digital assets were stolen in a cyber-attack on Orbit Chain, a cross-chain bridge project. The breach was confirmed by the blockchain project on January 1, 2024, after an “unidentified access” to Orbit Bridge was detected on December 31, 2023.
The attackers managed to steal 26,741.6 Ether (ETH) and 15,498,358 DAI, a stablecoin on the Ethereum blockchain. These stolen assets were transferred to multiple wallet addresses, totaling around $84.5 million based on current market prices. Orbit Chain, which was established in South Korea in 2018, has been actively pursuing the hackers and has engaged with law enforcement and cybersecurity experts to track and freeze the stolen funds.
Efforts to communicate with the perpetrators have been made by Orbit Chain, with the blockchain project sending messages to the hackers in an attempt to recover the stolen assets. Despite these efforts, the stolen funds have not been moved as of the latest updates. The company has also collaborated with the Korean National Police Agency and Korea Internet & Security Agency (KISA) to investigate the incident and recover the stolen assets.
As the investigation continues, Orbit Chain has cautioned its users to be wary of fraudulent reimbursement claims circulating online. The blockchain project has emphasized the importance of staying informed through official channels and has asked for the support of the community in spreading awareness about the incident.
At this time, the identity of the attackers remains unknown. However, there have been instances in the past where North Korea-affiliated groups have been linked to cryptocurrency thefts. According to research by Recorded Future’s Insikt Group, these groups have been responsible for stealing billions of dollars in digital assets since 2017.
The situation is ongoing, and Orbit Chain is committed to utilizing all available resources to track down the hackers and recover the stolen funds. Updates on the investigation will be provided as new information becomes available.