Orbit Bridge Collaborates with Law Enforcement Following $81 Million Hack
The decentralized cross-chain protocol, Orbit Bridge, is currently in discussions with law enforcement agencies after falling victim to a hacker who stole over $81 million worth of cryptocurrency. The project serves as a bridging service for Orbit Chain (ORC), a cross-chain platform that prioritizes scalability.
Orbit Chain announced the hack on Sunday and has since requested major global cryptocurrency exchanges to freeze the stolen assets. The project is working closely with global security experts, including Theori, to address the issue and track the funds in real-time. Additionally, they are in talks with 26 global security companies for further collaboration.
The team is actively communicating with the hackers and has sent them a second message. They are also in close contact with law enforcement agencies to track down and freeze the stolen assets.
Hacker Steals Various Cryptocurrencies
According to blockchain security firm Beosin, the hacker managed to steal $30 million worth of USDT, $22.5 million worth of Ethereum (ETH), $10 million worth of DAI, $10.44 million worth of WBTC, and $10 million worth of USDC.
ORC Token Price Drops
In response to the hack, ORC token’s price has declined by more than 12% in the past 24 hours.
Hot Take: Orbit Bridge Takes Action Against Major Crypto Hack
Orbit Bridge is facing a significant challenge after falling victim to an $81 million exploit. The project has promptly engaged with law enforcement agencies and global security experts to track down and freeze the stolen assets. With ongoing communication efforts directed towards the hackers, Orbit Bridge is determined to mitigate the impact of this security breach. However, the incident has negatively impacted the price of ORC token. The crypto community will closely follow the developments surrounding this high-profile hack.
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