Cross-chain project Orbit Chain fell victim to a major exploit, resulting in the protocol losing $81 million. The exploit occurred less than three hours before the new year.
As a result of the hack, the price of the Orbit Chain’s native token, ORC, fell by almost 20%.
Orbit Chain Suffers Major Exploit
While the world celebrated, hackers targeted yet another crypto ecosystem project. Hackers exploited the Orbit Bridge, the bridging service of the cross-chain protocol Orbit Chain. As a result, the protocol lost $82 million just hours before the new year. News of the exploit first emerged on X, where pseudo-anonymous X user Kgir drew attention to the exploit in a post on the 31st of December.
The post highlighted a series of large outflows originating from the Orbit Chain Bridge protocol. Others, such as on-chain sleuth Officer CIA and blockchain security firm Cyvers, also alerted users about the exploit.
“Looks like orbit bridge is getting drained right now, different fresh
We współpracy z: https://cryptodaily.co.uk/2024/01/hackers-ring-in-new-year-with-massive-81m-orbit-chain-exploit
