ORBIT CHAIN WAS ATTACKED WITH AN ESTIMATED DAMAGE OF ABOUT 81.5 MILLION USD
Orbit Bridge - A cross-chain bridge protocol, became the first victim of an attack in the new year 2024, with an estimated loss of about 81.5 million USD.
In five separate transactions, each sent to a different wallet address, the attacker transferred 50 million USD stablecoins (including 30 million USDT, 10 million DAI, and 10 million USDC), 231 wBTC, and 9,500 USD. ETH.
Launched in Korea in 2018, Orbit Chain is a blockchain that focuses primarily on the function of transferring assets between decentralized networks. Orbit Bridge is the preferred bridge for transferring assets between EVM and Klaytn compatible networks.
Hacks, scams, and attacks in 2023 caused up to $1.95 billion in losses to the cryptocurrency industry. The most targeted projects continue to be cross-chain bridges, which often hold large amounts of user assets.
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