Breach, Threat Intelligence

Crypto heist against Orbit Chain prompts theft of $86M

BleepingComputer reports that Orbit Chain has been estimated to have lost nearly $86 million following a cryptocurrency heist targeted at the blockchain platform's decentralized cross-chain protocol Orbit Bridge on New Year's Eve. Neither the attackers' identity nor exploit have been determined, but North Korean state-sponsored threat actors who were implicated in numerous cryptocurrency-related attacks during the past year have been suspected to be behind the incident. Meanwhile, Orbit Bridge has been noted by blockchain experts to be developed by Ozys, which had its KlaySwap and Belt Finance protocols previously compromised in suspected state-backed cyberattacks that involved Border Gateway Protocol takeovers. Aside from partnering with Korea's Internet and Security Agency and the Korean National Police Agency in investigating the incident, Orbit Chain has also begun working with various international collaborators in monitoring and freezing stolen funds. Moreover, Orbit Chain users have been warned to be vigilant of phishing sites promoted via verified accounts on X, formerly Twitter.

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