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Orbit Chain comments on recent $81m exploit

orbit-chain-comments-on-recent-81m-exploit
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Orbit Chain comments on recent $81m exploit

The Orbit Chain team, which suffered a hack estimated to be in excess of $81 million, commented on the attack and where the funds are stored.

In a post on X, the protocol team announced on Jan. 2 that stolen cryptocurrencies “remain untouched” from the addresses where the leaked funds are stored.

“Our team is constantly monitoring the stolen asset, and we promise to inform the community once the address associated with the stolen asset has taken action.”

Orbit Chain announcement

Following the attack, Orbit Chain has also asked global cryptocurrency trading platforms to freeze stolen assets and is working with international security firms and law enforcement to track the cryptocurrency.

Blockchain security experts previously reported that Orbit Chain lost about $81 million as attackers gained access to seven of the ten signatures of the multi-sig wallet.

Amid the attack, the price of the native ORC protocol token fell by almost 20%. At the time of writing, it is trading at $0.055.

Orbit Chain comments on recent $81m exploit - 1
Source: CoinMarketCap

The project team also reported conducting a comprehensive analysis to identify the root cause of the hack and interacting with international law enforcement agencies. Orbit also urged users to be vigilant against scams that promise to return and reimburse losses caused by the hack, clarifying that any new information about this incident will be published through the appropriate channels.