Share this article
Orbit Chain Loses $81M in Cross-Chain Bridge Exploit
The hacked funds remain "unmoved" according to Orbit Chain.
Updated Mar 8, 2024, 7:17 p.m. Published Jan 2, 2024, 12:39 p.m.
Orbit Chain, a platform that communicates and transacts with various blockchains, has lost $81 million after hackers exploited the platform's cross-chain bridge.
The project confirmed the hack in a post on X, saying a hacker funded a wallet using sanctioned privacy protocol Tornado Cash before attacking Orbit Chain's ethereum [ETH] vault. Proceeds of the hack were then sent to numerous Ethereum wallets. These wallets currently hold 26,741.6 ETH ($64 million) and around $18 million of the dai [DAI] stablecoin.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Orbit Chain added that the funds are "unmoved."
DefiLlama data shows that total value locked (TVL) on Orbit Chain dropped from $152 million to $71 million, with net outflows equalling $81.88 million.
The platform's native token [ORC] slumped by more than 13% after the exploit. It has since recovered back to a $36 million market cap, according to CoinMarketCap.
Cryptocurrency users lost nearly $2 billion to scams, rug pulls and hacks in 2023, researchers at security app De.Fi said in their annual report. While that's roughly half the amount of 2022, it's a sign that the industry remains susceptible to security risks,
Metamask developer Taylor Monahan said the Orbit attack follows similar patterns to hacks carried out by North Korean hackers Lazarus Group, which has stolen $3 billion through hacks and exploits over the past six years, according to cybersecurity firm Recorded Future.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Michael Saylor's Strategy Hangs on to Spot in Nasdaq 100 Index
The annual Nasdaq 100 rebalance saw six companies dropped and three new additions, with changes taking effect on December 22, but bitcoin treasury company Strategy hung onto its spot.
What to know:
- Strategy (MSTR) will remain in the Nasdaq 100 index despite a major reshuffle, which saw several household names dropped.
- The firm's business model, which involves stockpiling bitcoin, has drawn criticism from analysts and index providers, with MSCI considering excluding crypto treasury companies from its benchmarks.
- The Nasdaq 100 rebalance saw six companies dropped and three new additions, with changes taking effect on December 22, but Strategy's bitcoin-heavy strategy secured its spot.
Top Stories
