Former Employee Suspected of Facilitating $80 Million Attack
The South Korean company Ozys, the developer behind the cross-chain bridge Orbit Bridge, has accused one of its former employees of facilitating a recent attack on the protocol. The investigation reveals that the company’s Chief Information Security Officer (CISO) weakened the internal firewall settings on November 22, 2023. Just two days earlier, this employee had submitted a voluntary resignation letter.
Failure to Warn and Legal Action
Despite leaving his position on December 6, 2023, the former employee did not inform the company about the security changes made. Ozys has reported this incident to the police and filed a claim for damages against their ex-colleague. Local media reports suggest that authorities will investigate whether this individual allowed unidentified hackers to infiltrate by changing the security policy and whether there was any contact with a hacker group.
Investigation and Recovery Plan
Ozys, along with Theori (a security company), the National Intelligence Service, the police, and the local Internet and Security Agency, are currently investigating the attack. They are also verifying the potential involvement of North Korean hackers from the Lazarus Group. The company has promised to inform users about their fund’s recovery plan and its implementation timeline.
Past Attack on Orbit Bridge
Earlier this year, Orbit Bridge experienced a hacker attack resulting in over $80 million worth of crypto assets being withdrawn. The developers have reached out to major cryptocurrency exchanges in an attempt to freeze the stolen assets.
Hot Take: Serious Consequences of Insider Threats
Insider threats pose significant risks to organizations and can lead to devastating consequences. This incident highlights the importance of robust security measures and constant vigilance to prevent unauthorized access. Employers must prioritize employee awareness and education on cybersecurity best practices to mitigate the potential damage caused by insider attacks.
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