Orbit Chain’s bridge reportedly hacked for $81.5 million

Orbit Bridge, a cross-chain bridge protocol, has seen an unusual outflow of $81.5 million in various cryptocurrencies in what appears to be a major hack.

In five separate transactions, each to a new wallet, the Orbit Bridge sent $50 million worth of stablecoins (30 million Tether, 10 million DAIAnd 10 million USDC), 231 wBTC (approximately $10 million), and 9,500 et (approximately $21.5 million). The hack was first spotted by X user Kgjr.

The bridge appears to have close ties with the Klaytn KLAY

-1.51%
ecosystem; from Klaytn explorer shows that 9 of the top 10 tokens on the network, as measured by circulating market capitalization, are Orbit Bridge-wrapped assets.

The exact nature of the hack remains unknown and Orbit Chain could not immediately be reached for comment by The Block.

This is a development story.