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Monday, June 10, 2024
HomeCryptoHacker Orbit Chain transferred 48 million USD to Tornado Cash during months...

Hacker Orbit Chain transferred 48 million USD to Tornado Cash during months of inaction

In the final hours of 2023, the Orbit Chain cross-chain bridge, closely linked to the Klaytn ecosystem, was attacked and lost $81.5 million across various transactions.

Following the attack, the stolen funds remained untransmitted until Saturday, when the person or entity carrying out the hack began transferring approximately $48 million to the Ethereum-based cryptocurrency mixing service Tornado Cash, according to Arkham Intelligence.

The hacker’s motive for returning to activity after a long period of silence is still unclear. Orbit Chain, which recently started offering some bridge services again after the attack, announced the move of the funds.

“Our team is currently working closely with relevant authorities to promptly track down the stolen assets and take appropriate necessary measures,” the protocol wrote in a notice posted on Telegram.

Blockchain data shows that the hacker transferred approximately $48 million to a new wallet before sending the funds to Tornado Cash. Hackers still control approximately $71 million in Ether and stablecoin DAI as the value of these assets has increased since the attack.

Orbit Chain has yet to provide an official explanation for the hack, although the protocol has stated that the incident, to their knowledge, “…did not result from a vulnerability in the Orbit Bridge smart contract or the steal the authentication key.”

In an article above blog, Orbit Chain pointed to the shady actions of the protocol’s former chief information security officer as a possible explanation for the attack. “This has come as a great shock to our staff, and we are currently taking the necessary civil and criminal measures.”

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Jia Bao Ngoc

According to The Block

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Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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