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

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 have sent $50 million in stablecoins (30 million USDT, 10 million DAI and 10 million USDC), 230.8 wBTC (~$10 million) and 9,530 ETH (~$23.15 million) to fresh wallet addresses in five separate transactions, Orbit confirmed with The Block.


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Orbit Chain has yet to disclose the exact nature of the hack.

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About Author

Danny Park is an East Asia reporter at The Block writing on topics including Web3 developments and crypto regulations in the region. He was formerly a reporter at Forkast.News, where he actively covered the downfall of Terra-Luna and FTX. Based in Seoul, Danny has previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor of Journalism and Business Marketing from the University of Hong Kong.


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