KEY POINTS
Following a 5-month hiatus, an Orbit Chain hacker shifted $47.7 million into Tornado Cash. On the 8th of June, 12,932 Ether, valued at $47.7 million, was transferred to an alternate wallet, which was subsequently funneled into Tornado Cash.
Arkham Intelligence’s Report
According to blockchain analysis platform Arkham, the cybercriminal had expropriated in excess of $100 million in ETH and DAI from Orbit Chain five months earlier, with no subsequent communication or activity detected since the incident.
Etherscan’s data shows that the bulk of the $47.7 million in Ether moved via Tornado Cash occurred in segments of 100 ETH each. Meanwhile, the $20 million in DAI and additional cryptocurrencies taken from the cross-chain bridge remained stationary, with no transfers initiated by the hacker.
The cybercriminal executed the attack on the evening of December 31, 2023. The following day, Orbit Chain acknowledged the security breach and announced their engagement with global law enforcement bodies to address the issue.
Reward for Identifying the Hacker
On the 11th of January, the official X account of Orbit Chain declared a reward offer of up to $8 million for crucial information that would result in the identification of the perpetrator or the retrieval of the stolen assets.
Orbit Chain employs the Inter-Blockchain Communication Protocol to exchange data and assets throughout the Cosmos network seamlessly. DefiLlama reports that the blockchain currently secures close to $37 million in cumulative value.
