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Orbit Chain Faces Major Security Breach, Losing $81.68 Million in Crypto
2 months ago 1 min read

Orbit Chain suffers a major breach, losing $81.68 million in crypto

Orbit Chain, a cross-chain bridge, suffered a significant security breach on December 31, resulting in losses totaling around $81.68 million across various crypto. The breach has raised concerns about the blockchain industry’s security landscape in 2023, and investigations are currently underway by cybersecurity firm Theori, with international law enforcement agencies involved. Orbit Chain, which was founded in South Korea in 2018, acts as a cross-chain bridge for asset transfers between Ethereum Virtual Machine-compatible networks and Klaytn. Users seeking transaction cancellations and fund returns have expressed concern about the security breach, which occurred on the last day of the year. However,