Orbit Bridge saw losses worth $81.5 million in stablecoins and cryptos.
Orbit Chain team announced compensation for users.
The New Year’s Eve doled tears rather than cheers to the users of the cross-chain protocol Orbit bridge, which became yet another victim of crypto exploits.
Orbit Chain gets robbed off
A preliminary investigation by blockchain security firm PeckShield Inc. revealed losses worth $81.5 million in stablecoins and cryptocurrencies across five separate transactions.
Stablecoin losses totaled $50 million, including $30 million in Tether [USDT], $10 million in USD Coin [USDC], and $10 million in DAI.
About $10 million in Wrapped Bitcoin [wBTC] was lost while 9,500 Ethereum [ETH], equating to $21.5 million at the prevailing market price, was drained out of the cross-chain bridge.

Source: PeckShield

The list of addresses where the funds were seen moving to were flagged. Users were asked to proceed with caution.
Within five hours of the detection, Orbit Chain admitted to

Czytaj więcej

We współpracy z: https://ambcrypto.com/cross-chain-protocol-orbit-chain-attacked-on-new-years-eve/