The cross-chain bridge Orbit Chain confirmed it suffered from an unauthorized breach of access to its ecosystem on Dec. 31 at 08:52 PM +UTC, according to a post on social media. 

Orbit Chain’s post on X, formerly known as Twitter, said it is currently carrying out a “comprehensive analysis” of the cause of the breach alongside the offensive cybersecurity startup Theori.

It also said it’s “actively engaging” with international law enforcement agencies. 

The blockchain analytics platform Arkham Intelligence reported a loss totaling around $81.68 million in various cryptocurrencies including Tether (USDT), USD Coin (USDC), Ether (ETH), Wrapped Bitcoin (WBTC) and the algorithmic stablecoin DAI (DAI).

Additionally, Orbit warned users not to fall for any scam reimbursement offers, which have begun circulating on social media under accounts with similar name handles. 

Source: Orbit Chain on X (formerly Twitter)

Related: Thunder Terminal claims funds safe after $240K attack, hacker says otherwise

Orbit users have slowly started to reach out to the platform on social media asking for transactions to be canceled and to receive funds back. One user said their transaction is still pending validation. 

Another user posted that users are confused and “on edge” waiting for validators, saying that no one is answering requests. 

On social media Orbit Chain has yet to publicly respond to any of these questions from users. 

The platform started 2018 in South Korea as a multi-asset blockchain for cross-chain transactions between decentralized networks. It is often used to transfer assets between EMV-compatible networks and Klaytn.

According to an end-of-the-year report from the blockchain security platform Immunefi, a total of $1.8 billion was lost to Web3 hackers and scammers in 2023. Of this percentage, 17% can be accredited to the North Korean hackers the Lazarus Group. 

The peer-to-peer trading platform Mixin Network, came in as the year’s largest exploit, with a total of over $200 million in losses.

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