The team at Orbit Chain has confirmed that unauthorized access was gained to their decentralized Orbit Bridge on December 31. The attackers managed to siphon off ETH, as well as the stablecoins USDC and USDT. As a response, Orbit Chain has called upon the assistance of the Korea National Police Agency and the Korea Internet and Security Agency (KISA) to conduct a thorough investigation into the cyberattack.
Joining forces with ChainLight, a leading blockchain security firm, Orbit Chain is determined to uncover the truth. Analytics companies CertiK and PeckShield have estimated the protocol’s total losses at $81.5 million, with $30 million in USDT and $10 million in USDC.
“The Orbit Chain team, working closely with Korean law enforcement, has developed a specialized transaction analysis system to enhance our investigative efforts. Additionally, we are in discussions with domestic and international law enforcement agencies for further cooperation. We will exhaust all available means to track down the hackers and reclaim the funds,” affirmed Orbit Chain.
Orbit Chain has reached out to international cryptocurrency exchanges, urging them to freeze the stolen assets. The team has also attempted to establish contact with the attackers through multiple messages. Speculation suggests that the hackers responsible for this attack may have ties to North Korea.
It is worth noting that the Thunder Terminal trading platform also fell victim to a recent hacker attack. In that instance, the attacker gained access to 114 Thunder wallets and demanded a ransom of 50 ETH in exchange for not disclosing the data.