Orbit Chain's bridge reportedly hacked for $81.5 million

Quick Take

  • Orbit Chain’s cross-chain bridge has reportedly been hacked for $81.5 million in cryptocurrencies and stablecoins. 
  • The exact nature of the hack is unknown.

Orbit Bridge, a cross-chain bridge protocol, has seen unusual outflows of $81.5 million in several cryptocurrencies in what appears to be a major hack.

In five separate transactions, each to a fresh wallet, the Orbit Bridge sent $50 million in stablecoins (30 million Tether, 10 million DAI, and 10 million USDC), 231 wBTC (about $10 million), and 9,500 eth (about $21.5 million). The hack was first noticed by X user Kgjr

The bridge appears to have close ties to the Klaytn ecosystem; Klaytn's explorer shows that 9 of the top 10 tokens on the network by circulating market cap are Orbit Bridge wrapped assets. 

The exact nature of the hack remains unknown, and Orbit Chain was unable to be immediately reached for comment by The Block.

This is a developing story. 


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About Author

Zack Abrams is a writer and editor based in Brooklyn, New York. Before coming to The Block, he was the Head Writer at Coinage, a Web3 media outlet covering the biggest stories in Web3. The story he co-reported on Do Kwon won a 2022 Best in Business Journalism award from SABEW. Other projects included a deep dive into SBF's defense based on exclusive documents and unveiling the identity of the hacker behind one of 2023's biggest crypto hacks — so far. He can be reached via X @zackdabrams or email, [email protected].