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Home»BLOCKCHAIN NEWS»Orbit Chain recently commented on the $81 million exploit.
BLOCKCHAIN NEWS

Orbit Chain recently commented on the $81 million exploit.

By Crypto FlexsJanuary 2, 20242 Mins Read
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Orbit Chain recently commented on the  million exploit.
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The Orbit Chain team, which suffered hacking losses estimated at over $81 million, commented on the details of the attack and where the funds were stored.

The protocol team announced in a January 2 post on

As of now, the stolen assets have not been moved.
Our team is constantly monitoring stolen assets and we are committed to notifying our community when addresses associated with stolen assets take action.

— Orbit Chain (@Orbit_Chain) January 2, 2024

“Our team is continuously monitoring stolen assets and we are committed to notifying our community when addresses associated with stolen assets take action.”

Orbital Chain Announcement

After the attack, Orbit Chain also asked The global cryptocurrency trading platform is freezing stolen assets and working with international security companies and law enforcement agencies to track down the cryptocurrencies.

The Orbit Chain team developed an investigation support and cause analysis system with the National Police Agency and KISA (Korea Internet & Security Agency), enabling a more active and comprehensive investigation approach.

Besides, we are also discussing closely…

— Orbit Chain (@Orbit_Chain) January 2, 2024

Blockchain security experts previously reported that Orbit Chain lost approximately $81 million when attackers gained access to seven out of 10 signatures in a multi-signature wallet.

While the attack was ongoing, the price of the native ORC protocol token fell by nearly 20%. At the time of this writing, it is trading at $0.055.

Source: CoinMarketCap

Project team too reported We conduct comprehensive analysis and interact with international law enforcement agencies to determine the root cause of the hack. Orbit also urged users to be wary of scams that promise to return and compensate for losses resulting from the hack, making it clear that any new information about the incident will be published through appropriate channels.

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