Orbit Bridge hacked

Orbit Bridge, a cross-chain protocol that facilitates asset transfers between blockchains, announced it had been hacked on December 31, 2023.

The breach led to the theft of approximately $81 million in cryptocurrency, affecting multiple tokens and wallets connected to the platform.

The team behind Orbit Bridge stated they are working with blockchain security firms and law enforcement agencies to investigate the incident and recover stolen funds.

Initial analysis suggests that the attackers exploited vulnerabilities in smart contracts or access controls within the protocol’s infrastructure.

Orbit Bridge has temporarily suspended operations and urged users to avoid interacting with the platform until further notice.

FAQ

What is Orbit Bridge?

It’s a cross-chain protocol that enables asset transfers between different blockchains.

How much was stolen?

Approximately $81 million in various cryptocurrencies were stolen during the hack.

What actions are being taken?

Orbit Bridge is investigating the breach with security experts and law enforcement, and has paused operations.