

Cryptocurrency
New Year, New Attack? Orbit Bridge Drained for $82M – Crypto News
Barely 24 hours into the new year, the decentralized cross-chain protocol Orbit Bridge has been hacked for millions of dollars in cryptocurrencies.
According to an official tweet, attackers gained unauthorized access to the Orbit Bridge at 08:52 pm UTC on December 31. The protocol is engaging with international law enforcement agencies and conducting an analysis to discover the incident’s root cause.
Orbit Bridge Hacked for $82M
The hack was first flagged by pseudonymous X (formerly Twitter) user Kgjr roughly an hour after the network witnessed a series of large outflows. They reported that new wallets were being created for several crypto assets, including Wrapped Bitcoin (WBTC), Tether (USDT), USD Coin (USDC), and Dai (DAI).
Interestingly, Kgjr said test transfers to the new wallets showed on the Orbit bridge scanner, but the larger transactions did not.
A detailed explanation by Вeb3 threat researcher and on-chain sleuth Officer CIA disclosed that the estimated damage was over $81.5 million: $30 million USDT, $10 million USDC, $10 million DAI, 9,500 ETH worth $21.7 million, and 230 WBTC worth $9.8 million.
Officer CIA said it appeared the attacker had gained seven out of ten multisig signers before they got access to the protocol. On the other hand, blockchain security firm SlowMist said the attack may have been caused by a vulnerability in the protocol or the network’s centralized server was compromised.
Orbit Warns Against Reimbursement Scams
The exploiter began the transactions with an initial funding of 10 ETH from crypto mixer Tornado Cash and transferred them through the intermediary address. After draining the Orbit Bridge protocol, the exploiter started dumping USDT and WBTC for ETH and USDC for DAI. They are currently left with 26,751 ETH worth $61.5 million and $15 million in DAI.
While the Orbit Chain team has yet to provide details of the incident, they have warned that any X accounts claiming to reimburse affected parties are scams, instructing users to interact only with the official protocol account.
Meanwhile, users are asking that pending transactions be canceled as the Orbit Bridge is currently shut down due to the incident. Some want to know when the protocol would connect validators and are on edge because the Orbit team has kept mum.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
-
Blockchain5 days ago
Institutional Demand Surges As Ethereum Sets New Inflow Records – Crypto News
-
Blockchain1 week ago
Ripple and Ctrl Alt Team to Support Real Estate Tokenization – Crypto News
-
others1 week ago
EUR/USD recovers with trade talks and Fed independence in focus – Crypto News
-
Technology1 week ago
Fed Rate Cut Odds Surge As Powell’s Future Hangs In The Balance – Crypto News
-
Technology1 week ago
Fed Rate Cut Odds Surge As Powell’s Future Hangs In The Balance – Crypto News
-
Business1 week ago
XLM Is More Bullish Than ETH, SOL, And XRP, Peter Brandt Declares – Crypto News
-
Cryptocurrency1 week ago
Anarchy, crime and stablecoins – Blockworks – Crypto News
-
Blockchain5 days ago
DeFi Development Nears 1 Million Solana In Treasury – Crypto News
-
others1 week ago
Top Crypto Exchange by Trading Volume Binance Announces Airdrop for New Ethereum (ETH) Ecosystem Altcoin – Crypto News
-
Cryptocurrency1 week ago
Bitcoin trades near $119K after new all-time high; Coinbase rebrands wallet to ‘Base App’ – Crypto News
-
Technology1 week ago
“Decentralized Ponzi Scheme”- Gold Bug Peter Schiff Slams Landmark Crypto Bills – Crypto News
-
Cryptocurrency7 days ago
Altseason heats up, but Bitcoin could face short-term pullback – How? – Crypto News
-
others1 week ago
VanEck Details Key Drivers Boosting Bitcoin Price, Including Corporate Treasury Demand, ETF Flows and More – Crypto News
-
Business1 week ago
XRP Lawsuit Update: Ripple Paid $125M in Cash, Settlement Hinges on Appeal – Crypto News
-
De-fi1 week ago
BNB Chain Teases New Blockchain with Privacy Features to Compete With Crypto Exchanges – Crypto News
-
Technology1 week ago
Breaking: GENIUS Act Becomes First Major Crypto Legislation as Trump Signs Bill – Crypto News
-
De-fi1 week ago
Crypto Market Cap Hits $4 Trillion Milestone as US House Passes Landmark Bills – Crypto News
-
Cryptocurrency7 days ago
California Sheriffs Believe 74-Year-Old’s Disappearance Linked to Son’s Crypto Fortune – Crypto News
-
Cryptocurrency7 days ago
Shytoshi Kusama Breaks Silence on New SHIB AI Whitepaper and Transformed Future – Crypto News
-
Cryptocurrency6 days ago
Sanctum acquires Ironforge, plots transaction infrastructure vertical – Crypto News
-
Cryptocurrency6 days ago
XRP Price Hits All-Time High at $3.66 — Can It Smash Through $4 After Trump Win & SEC Shake-Up? – Crypto News
-
Business1 week ago
Ethereum Price Prediction- Bulls Target $3,700 As ETH Treasury Accumulation Soars – Crypto News
-
Business1 week ago
CLARITY Bill Could Delay Over Last-Minute Push for Anti-CBDC Clause; Report – Crypto News
-
others1 week ago
GBP/USD rallies on US PPI dip and Trump’s potential Powell removal – Crypto News
-
others1 week ago
GBP/USD rallies on US PPI dip and Trump’s potential Powell removal – Crypto News
-
Cryptocurrency1 week ago
Russia’s $85 Billion Sberbank to Launch Crypto Custody Services – Crypto News
-
De-fi1 week ago
U.S. House Passes Clarity, GENIUS, and Anti-CBDC Acts With Historic Bipartisan Support for Crypto – Crypto News
-
Technology1 week ago
Malicious code found in fake coding extensions used to steal crypto – Crypto News
-
Cryptocurrency1 week ago
XRP Price Spikes to Record Highs As Momentum Signals Extended Gains – Crypto News
-
Technology1 week ago
Meta’s AI Studio: Red flag or red herring? – Crypto News
-
Blockchain1 week ago
Why Bitcoin self-custody is declining in the ETF era – Crypto News
-
Cryptocurrency1 week ago
US House passes three key crypto bills; market reaction muted as Bitcoin dips – Crypto News
-
De-fi1 week ago
Crypto Market Cap Hits $4 Trillion Milestone as US House Passes Landmark Bills – Crypto News
-
Cryptocurrency6 days ago
Arthur Hayes-linked wallet bags $2M worth of AAVE and LDO in an OTC deal – Crypto News
-
others6 days ago
Why Is The Crypto Market Rising Today? – Crypto News
-
Business5 days ago
Vitalik Buterin Approves Gas Limit Hike, Warns Against Risky Ethereum Scaling – Crypto News
-
Blockchain5 days ago
How to Use Google Gemini to Turn Crypto News Into Trade Signals – Crypto News
-
others5 days ago
Breaking: Polymarket Reenters US Market With Exchange Acquisition As Probe Ends – Crypto News
-
Blockchain4 days ago
Strategy to keep STRC Fund Pegged to $100 – Crypto News
-
Blockchain4 days ago
XRP Could Skyrocket 500% Against Bitcoin, Analyst Warns – Crypto News
-
De-fi1 week ago
U.S. Marshals Peg Federal Bitcoin Holdings at 28,988 Tokens Worth $3.4 B – Crypto News
-
Metaverse1 week ago
Zoho Zia LLM launched with speech-to-text models and AI agent marketplace: All you need to know – Crypto News
-
Technology1 week ago
Europe’s answer to ChatGPT? Mistral adds voice and research features to Le Chat AI – Crypto News
-
Blockchain1 week ago
Nasdaq Exchange Files SEC Form to List Staking Ethereum ETF – Crypto News
-
Cryptocurrency1 week ago
Ethereum price surges 6% to $2,800 as shorts suffer amid $500M crypto liquidation – Crypto News
-
De-fi1 week ago
Trump’s Crypto Assets Now Comprise a Key Part of Family Fortune Worth Billions – Crypto News
-
Technology7 days ago
Not Google or Bing! This search engine lets you block AI images in search results – Crypto News
-
De-fi6 days ago
Nasdaq Files to Add Staking to BlackRock’s ETH ETF – Crypto News
-
Cryptocurrency5 days ago
Ethereum Shatters Inflow Records, Pulls in $2.12 Billion in a Week – Crypto News
-
Cryptocurrency4 days ago
Solana Clinches 5-Month High, Where to From Here? – Crypto News