According to Reports, Orbit Chain’s Bridge Was Compromised for $81.5 Million

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Last Updated on January 1, 2024 by Bitfinsider

In what seems to be a significant hack, $81.5 million in various cryptocurrencies have disappeared from Orbit Bridge, a cross-chain bridge technology.

The Orbit Bridge delivered $50 million in stablecoins (30 million Tether, 10 million DAI, and 10 million USDC), 231 wBTC (about $10 million), and 9,500 eth (around $21.5 million) in five different transactions, each to a new wallet. X user Kgjr was the first to notice the hack.

According to Klaytn’s explorer, nine out of the top ten tokens on the network by circulating market capitalization are Orbit Bridge wrapped assets, suggesting that the bridge and the Klaytn ecosystem are closely related. It’s still unclear what exactly the hack included.

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