The decentralized cross-chain protocol Orbit Bridge is in talks with law enforcement agencies after a hacker looted the project for more than $81 million worth of crypto.

The hacked project serves as a bridging service for Orbit Chain (ORC), a cross-chain platform focused on scalability.

Orbit Chain announced the hack on Sunday, then noted the following day that it had requested major global cryptocurrency exchanges to freeze the stolen assets.

“In addition, we are collaborating with global security experts, including Theori, to respond to issues and track funds in real-time. Additionally, we are in discussions with 26 global security companies about closer collaboration.

We are in close contact with law enforcement agencies, and we are working diligently to track down and freeze the assets that have been stolen. 

Our efforts to communicate with the attackers of the Orbit Bridge are continuing, and we have delivered a second message to them (Jan-01-2024 01:08:35 PM +UTC).”

Blockchain security firm Beosin notes the hacker stole $30 million worth of the top stablecoin USDT, $22.5 million worth of Ethereum (ETH), $10 million worth of the stablecoin DAI, $10.44 million worth of Wrapped Bitcoin (WBTC), and $10 million worth of the stablecoin USDC.

Orbit Chain’s native token, ORC, is down more than 12% in the past 24 hours.

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Author: Conor Devitt

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