OrbitChain
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**OrbitChain (ORC) Buyback and Burn: 🔥 OrbitChain completes its 9th regular ORC buyback and burn, consuming 1,615,405.46805945 ORC (approximately $805,000 at current market price) from October 16th to 20th. ORC is trading at $0.05051, marking a 3.12% increase. 💸🔄 #OrbitChain #BuybackAndBurn
🔄 Correction: The article 'Orbit Chain, additional $12.5 million stolen' has been updated to 'Orbit Chain, no additional theft damage'. We apologize for any confusion and inconvenience caused by this error. Thank you for using Coinness service. 🙏📰 #Correction #OrbitChain
Shocking details: Orbit Bridge Succumbs to Cyber Attack with a Theft of $82 Million
At the outset of the new year, a significant security incident occurred when the bridging service Orbit Chain recorded a cyber attack resulting in the theft of financial assets amounting to $81.7 million.
Hackers Managed to Infiltrate Orbit Bridge
Hackers successfully exploited Orbit Bridge, a key component of the cross-chain communication protocol #Orbit Chain, with reports of the $82 million theft surfacing just three hours before the official arrival of the new year.
Early Warning of Unauthorized Transactions
An alert came on December 31st via platform X (formerly Twitter), where pseudonymous user Kgjr signaled potential misuse. This user pointed out a series of unusually large withdrawals from the #OrbitChain Bridge. Additional details were provided by online detective Officer CIA and blockchain security firm Cyvers.
Amount Obtained by Hackers According to Arkham Intelligence
Data from the analytical service Arkham Intelligence indicate that the total amount of funds illegally obtained by hackers is approximately $81.68 million.
Orbit Chain's Connection with Klaytn
Orbit Chain is closely linked to the #Klaytn (KLAY) blockchain network, which is a modular first-layer blockchain. The eight main assets in the Klaytn network, which constitute the largest market capitalization, are integrated via Orbit Bridge.
Still Unknown Mechanism of Exploit
Details of the exploit remain unclear. The outlet Cointelegraph attempted to obtain a statement from both Orbit Chain and Klaytn but did not receive an immediate response.
Background of Orbit Chain
Orbit Chain, established in South Korea in 2018, is a multi-asset blockchain specializing in cross-chain transfers between various decentralized blockchains. It primarily serves for transferring assets between EVM-compatible networks and Klaytn.
Not to Be Confused with Orbiter Finance
👉It's important to note that Orbit Chain is a separate entity from another cross-chain bridging protocol called #OrbiterFinance , which shares a similarly sounding name.
💥If this article caught your interest, don't forget to follow us and give a like. Throughout this year, we will bring you the most interesting analyses and tips to help you get rich.🐳 #SpaceCatch
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Hackers Managed to Infiltrate Orbit Bridge
Hackers successfully exploited Orbit Bridge, a key component of the cross-chain communication protocol #Orbit Chain, with reports of the $82 million theft surfacing just three hours before the official arrival of the new year.
Early Warning of Unauthorized Transactions
An alert came on December 31st via platform X (formerly Twitter), where pseudonymous user Kgjr signaled potential misuse. This user pointed out a series of unusually large withdrawals from the #OrbitChain Bridge. Additional details were provided by online detective Officer CIA and blockchain security firm Cyvers.
Amount Obtained by Hackers According to Arkham Intelligence
Data from the analytical service Arkham Intelligence indicate that the total amount of funds illegally obtained by hackers is approximately $81.68 million.
Orbit Chain's Connection with Klaytn
Orbit Chain is closely linked to the #Klaytn (KLAY) blockchain network, which is a modular first-layer blockchain. The eight main assets in the Klaytn network, which constitute the largest market capitalization, are integrated via Orbit Bridge.
Still Unknown Mechanism of Exploit
Details of the exploit remain unclear. The outlet Cointelegraph attempted to obtain a statement from both Orbit Chain and Klaytn but did not receive an immediate response.
Background of Orbit Chain
Orbit Chain, established in South Korea in 2018, is a multi-asset blockchain specializing in cross-chain transfers between various decentralized blockchains. It primarily serves for transferring assets between EVM-compatible networks and Klaytn.
Not to Be Confused with Orbiter Finance
👉It's important to note that Orbit Chain is a separate entity from another cross-chain bridging protocol called #OrbiterFinance , which shares a similarly sounding name.
💥If this article caught your interest, don't forget to follow us and give a like. Throughout this year, we will bring you the most interesting analyses and tips to help you get rich.🐳 #SpaceCatch
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Scammers are spreading fake reimbursement announcements to fetch the account details of Orbit Bridge users.
#orc #OrbitChain
https://blockchainreporter.net/orbit-bridge-faces-81-4-million-security-breach-and-reimbursement-scam/
#orc #OrbitChain
https://blockchainreporter.net/orbit-bridge-faces-81-4-million-security-breach-and-reimbursement-scam/
🔥🔥🔥 Orbit Suspends Cross-Chain Bridge Contract After $82M Exploit: Beosin 🔥🔥🔥
In the final hours before the new year, hackers targeted Orbit Bridge, the cross-chain bridging service of #OrbitChain , seizing a substantial $82 million.
The project swiftly responded by suspending the cross-chain bridge contract and engaging in on-chain negotiations with the attackers, as reported by Beosin Alert, an on-chain analytics platform. Concerns about a potential exploit were initially raised by a pseudonymous Twitter user, Kgjr, on December 31, who flagged significant outflows from the Orbit Chain Bridge protocol.
Blockchain analytics platform Arkham Intelligence detailed that the hackers executed five separate transactions, moving $30 million in Tether (#USDT ), $10 million in USD Coin (USDC), #Ethereum (ETH), 231 Wrapped Bitcoin (WBTC), and $10 million worth of the algorithmic stablecoin DAI to new wallets.
Orbit Chain, a South Korean-based multi-asset blockchain renowned for facilitating cross-chain transfers between decentralized networks, particularly EVM-compatible networks and Klaytn, suffered a notable setback. The protocol, closely associated with the Klaytn network, where eight of the largest assets are wrapped on the Orbit Bridge, witnessed a significant drop in the value of its native coin (ORC). ORC plummeted by as much as 19% upon news of the exploit. Presently, the coin is trading at $0.0576, with its price continuing to decline, according to Coingecko data.
Source - Jai Pratap @jai-pratap
Website - Cryptonews
#CryptoNews🔒📰🚫 #BinanceSquareTalks $ETH $USDC
In the final hours before the new year, hackers targeted Orbit Bridge, the cross-chain bridging service of #OrbitChain , seizing a substantial $82 million.
The project swiftly responded by suspending the cross-chain bridge contract and engaging in on-chain negotiations with the attackers, as reported by Beosin Alert, an on-chain analytics platform. Concerns about a potential exploit were initially raised by a pseudonymous Twitter user, Kgjr, on December 31, who flagged significant outflows from the Orbit Chain Bridge protocol.
Blockchain analytics platform Arkham Intelligence detailed that the hackers executed five separate transactions, moving $30 million in Tether (#USDT ), $10 million in USD Coin (USDC), #Ethereum (ETH), 231 Wrapped Bitcoin (WBTC), and $10 million worth of the algorithmic stablecoin DAI to new wallets.
Orbit Chain, a South Korean-based multi-asset blockchain renowned for facilitating cross-chain transfers between decentralized networks, particularly EVM-compatible networks and Klaytn, suffered a notable setback. The protocol, closely associated with the Klaytn network, where eight of the largest assets are wrapped on the Orbit Bridge, witnessed a significant drop in the value of its native coin (ORC). ORC plummeted by as much as 19% upon news of the exploit. Presently, the coin is trading at $0.0576, with its price continuing to decline, according to Coingecko data.
Source - Jai Pratap @jai-pratap
Website - Cryptonews
#CryptoNews🔒📰🚫 #BinanceSquareTalks $ETH $USDC
Breaking News: Orbit Chain Hackers Unveil $81.4 Million Exploit to Ring in the New Year
The cross-chain bridge of Orbit Chain was compromised by an exploit, which led to the loss of Tether, DAI, USDC, wBTC, and ETH with a combined value of around $81.4 million.
The vulnerability was exploited by the exploiter, who then transferred funds to a new wallet.
A weakness in the bridge or a hack in the centralized server was discovered as the primary reason by the blockchain security company SlowMist which was responsible for the investigation.
It has been revealed that a hack occurred on Orbit Bridge, which is a protocol for interchain communication that is utilized for asset conversion. A total of around $81.4 million worth of cryptocurrency were stolen from the system.
The Orbit Bridge was struck by a number of significant discharges.
An vulnerability that was worth $81.4 million was apparently used by hackers to ring in the New Year with Orbit Bridge. A number of significant outflows were discovered by the blockchain security company SlowMist and the on-chain intelligence service LookOnChain. These outflows were encountered via the cross-chain protocol.
According to the latter, the Orbit Bridge was responsible for the transfer of 30 million Tether (USDT), 10 million DAI, 10 million USDCoin (USDC), 231 wBTC (worth over $10 million), and 9,500 ETH (worth around $21.5 million) in five distinct transactions.
After doing a preliminary examination from the outside, SlowMist came to the conclusion that either the centralized server has been compromised or there is a potential vulnerability in the Orbit Chain bridge. A further in-depth investigation is currently being carried out by the company in order to obtain additional information on the attack.
The hacking of Orbit Chain has been confirmed.
Orbit Chain reported the hack on its protocol in a tweet that was published not too long ago on X. The tweet described the breach as a "unidentified access" to the bridge. A comprehensive investigation into the underlying cause of the assault is currently being carried out by the company, which has said that it is actively collaborating with law enforcement authorities in order to identify the perpetrator of the incident.
#hack #OrbitChain
The vulnerability was exploited by the exploiter, who then transferred funds to a new wallet.
A weakness in the bridge or a hack in the centralized server was discovered as the primary reason by the blockchain security company SlowMist which was responsible for the investigation.
It has been revealed that a hack occurred on Orbit Bridge, which is a protocol for interchain communication that is utilized for asset conversion. A total of around $81.4 million worth of cryptocurrency were stolen from the system.
The Orbit Bridge was struck by a number of significant discharges.
An vulnerability that was worth $81.4 million was apparently used by hackers to ring in the New Year with Orbit Bridge. A number of significant outflows were discovered by the blockchain security company SlowMist and the on-chain intelligence service LookOnChain. These outflows were encountered via the cross-chain protocol.
According to the latter, the Orbit Bridge was responsible for the transfer of 30 million Tether (USDT), 10 million DAI, 10 million USDCoin (USDC), 231 wBTC (worth over $10 million), and 9,500 ETH (worth around $21.5 million) in five distinct transactions.
After doing a preliminary examination from the outside, SlowMist came to the conclusion that either the centralized server has been compromised or there is a potential vulnerability in the Orbit Chain bridge. A further in-depth investigation is currently being carried out by the company in order to obtain additional information on the attack.
The hacking of Orbit Chain has been confirmed.
Orbit Chain reported the hack on its protocol in a tweet that was published not too long ago on X. The tweet described the breach as a "unidentified access" to the bridge. A comprehensive investigation into the underlying cause of the assault is currently being carried out by the company, which has said that it is actively collaborating with law enforcement authorities in order to identify the perpetrator of the incident.
#hack #OrbitChain
"Orbit Chain Emerges as the Ultimate Victim in DeFi's 2023 Exploitation Saga"
Cross-chain scalability protocol Orbit Chain suffered the last major exploit in 2023, with millions of dollars lost from multiple blockchains.
Read more on: https://thecryptobasic.com/2024/01/01/scam-alert-orbit-chain-becomes-last-exploited-defi-protocol-of-2023/
#OrbitChain #OrbitChainHack #cryptocreep #CryptonewswithJack #CryptoNews🔒📰🚫
Read more on: https://thecryptobasic.com/2024/01/01/scam-alert-orbit-chain-becomes-last-exploited-defi-protocol-of-2023/
#OrbitChain #OrbitChainHack #cryptocreep #CryptonewswithJack #CryptoNews🔒📰🚫
Orbit Chain’s interchain bridge has suffered a security breach, resulting in a loss of $81.5 million
Data shows that Orbit has sent stablecoins worth $50 million (30 million USDT, 10 million DAI, and 10 million USDC), 231 wBTC (about $10 million), and 9,500 ETH (about $21.5 million) to the hacker's address.
#OrbitChain #breach #BinanceSquare #dyor
Data shows that Orbit has sent stablecoins worth $50 million (30 million USDT, 10 million DAI, and 10 million USDC), 231 wBTC (about $10 million), and 9,500 ETH (about $21.5 million) to the hacker's address.
#OrbitChain #breach #BinanceSquare #dyor
Crypto hacker appeared months later: The danger is increasing.
The hacker behind the $82 million Orbit Chain attack on New Year's Eve transferred $47.7 million of cryptocurrency to Tornado Cash after five months of silence.
According to blockchain analysis firm Arkham Intelligence, a total of 12,932 Ether (ETH), worth $47.7 million, was moved to a new address and sent to Tornado Cash in seven transactions on June 8. This attack reportedly caused $82 million in damage, but Arkham's latest posts suggest it's closer to $100 million.
Arkham, one of the first companies to notice the transfer, said in its June 8 Etherscan data shows that the $47.7 million in Ether sent through Tornado Cash was mostly in batches of 100 ETH.
The hacker did not move the $20 million worth of stolen Dai (DAI) or other coins mined from the cross-chain bridge. Their balance currently stands at $71.2 million; This includes $51.1 million in Ether and small amounts of #Bitcoin (wBTC), #Ether (wETH), #OrbitChain (ORC) and #USDCoin (USDC).
The attack took place in the last hours of 2023. Orbit Chain confirmed the cyberattack the next day and said it was “actively engaging” with international law enforcement. Orbit Chain's “We are offering a maximum reward of $8 million.”
According to DefiLlama, approximately $37 million in total value is locked in Orbit Chain. But this figure is 75 percent lower than the $149.25 value locked in the protocol a few hours before the December 31 attack.
$BTC $USDC $ETH
The hacker behind the $82 million Orbit Chain attack on New Year's Eve transferred $47.7 million of cryptocurrency to Tornado Cash after five months of silence.
According to blockchain analysis firm Arkham Intelligence, a total of 12,932 Ether (ETH), worth $47.7 million, was moved to a new address and sent to Tornado Cash in seven transactions on June 8. This attack reportedly caused $82 million in damage, but Arkham's latest posts suggest it's closer to $100 million.
Arkham, one of the first companies to notice the transfer, said in its June 8 Etherscan data shows that the $47.7 million in Ether sent through Tornado Cash was mostly in batches of 100 ETH.
The hacker did not move the $20 million worth of stolen Dai (DAI) or other coins mined from the cross-chain bridge. Their balance currently stands at $71.2 million; This includes $51.1 million in Ether and small amounts of #Bitcoin (wBTC), #Ether (wETH), #OrbitChain (ORC) and #USDCoin (USDC).
The attack took place in the last hours of 2023. Orbit Chain confirmed the cyberattack the next day and said it was “actively engaging” with international law enforcement. Orbit Chain's “We are offering a maximum reward of $8 million.”
According to DefiLlama, approximately $37 million in total value is locked in Orbit Chain. But this figure is 75 percent lower than the $149.25 value locked in the protocol a few hours before the December 31 attack.
$BTC $USDC $ETH
